Chapter 4, Problem 4.41MD

(Tax Plan Alternatives; The “FairTax”) There are many proposals to make taxation fairer. Check out the FairTax initiative in the United States at

www.fairtax.org

Research how the proposed FairTax works. One suggestion is to eliminate income taxes and most other taxes in favor of a 23% consumption tax on all products and services that you buy. Some FairTax opponents question the 23% figure and say that because of the way the tax is calculated, it would be more accurate to say the rate is 30%—check this carefully. Write a program that prompts the user to enter expenses in various categories (e.g., housing, food, clothing, transportation, education, health care, vacations), then prints the estimated FairTax that person would pay.