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."
While he stopped short of endorsing the approach completely, Thompson signaled his willingness to revamp the Tax Code.
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Five of the eight Republican presidential candidates have also spoken favorably of FairTax proposals, as has one Democratic candidate, Mike Gravel.
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