Fair Tax

Definition:

A proposal to change the federal tax laws in the United States from current tax system to a single national consumption tax on retail sales. The plan was introduced to the Congress as the Fair Tax Act for the first time in July 1999. The Act gained additional visibility in 2008.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Pooling of interests

An accounting method for reporting acquisitions accomplished through the use of equity. The combined assets of the merged entity are consolidated using book value, as opposed to the purchase method... Read More

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