Potential Republican presidential candidate Fred Thompson has written a letter indicating that he would be willing to support an overhaul of the Tax Code called the FairTax, which could replace the income tax system and all payroll taxes with a non-regressive national retail tax.

In a letter to Leo Linbeck, chairman of Americans for Fair Taxation, Thompson wrote, "We share the same belief that the next president should enact a fundamental overhaul of the Tax Code that makes it fairer, simpler and more pro-growth." He added that the "principles and ideas found in the FairTax are a good place to start."

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access