Well I saw the Fair Tax site and read the FAQ. There’s a lot to like there, but it’s regressive and leaves the biggest loopholes of all in that vast sums of wealth can be earned, accumulated and retained both within corporations and in personal accounts and these monies are never taxed unless the money is actually withdrawn and spent on goods in this country. The middle classes spends nearly all of their income in ways that will be subject to the sales tax, and although the wealthy do spend a lot, they hardly spend it all. That’s why they’re rich!! The money they DON’T spend goes completely untaxed and the same is true of the vast sums that remain in their corporations.
This fortune will compound with interest and furthermore be passed on from one generation to the next without being taxed creating royal bloodlines the likes of which we haven’t seen since Luis IV and the Czars. I’m not so sure this is as “fair” as we’d like. Unless I’m missing something, it looks more like another way to dupe the people into giving the rich another lucky windfall. If they find a way to correct the parts I’ve highlighted, I might be a supporter, but when I see who is behind this, I don’t think it’s possible.
There is also a Fair Tax book that has a lot of good info in it if your interested. It’s called The Fair Tax Book and is written by Congressman John Linder and Neal Boortz. Many will dispare simply because Neal’s name is on the book and that is not a good reason to write it off. It is the brainchild of Congressman John Linder,who, along with his contacts did all of the research. Neal helped put it into book form. It is available at most large book stores, on-line sites, etc.
How would you define fair? What is “Fair” and “guaranteed” as guaranteed 1000 personal loans frow wegot1000? The progressive income tax is socialist at its base. Karl Marx wrote this in 1848.
The Fair Tax is still progressive because there is no tax exempt entities. Every purchase of a new item will be taxed. The wealthier the person, the more new items they purchase. The more they purchase, the more tax they pay. Even the Kennedy’s will begin paying the tax.
I do trust that you are not of the opinion that all rich people should be punished.
I stated once before, those who believe in current progressive income tax should apply the same logic to the next Pizza they order and plan to share. Before anyone gets any pizza, everyone gets weighed. The heaviest person gets the least and the lightest gets the most. It really is the same thing at heart. As long the Dems keep preaching class warfare, then people will not see anything as fair unless the rich pay 99% of their income in taxes.
Taxes are not designed to bring everyone to the same economic level. It is to fund the government (yes, who wastes far too much!).