And we haven't even heard from Your Nightmare or lewislynn yet.
Regarding the consumer price issue. I don't think the disappearance of embedded taxes will result in the level of price depreciation that some of the Fair Taxers do. I think the number can be show to be 10-15% lower. A large part of embedded prices is labor and I believe (some will disagree) that any further lessening of prices would have to come from decreased wages.
However, by freeing up corporations from income taxes and payroll taxes and by taxing the underground economy as well as foreign tourists and goods American companies would be unleashed to pursue explosive growth. America would become the world's largest tax haven and internationals would beat a path to our door to build production facilities here. Jobs? We'll have them.
The sheer boom factor would create so much prospertity and competition that these arguments would seem moot.
...and we haven't even gotten to illegal immigrants.
To receive the pre-bate, you must have a VALID SS#. Even illegals have to buy food, etc. so they will be paying the sales tax but not receiving the pre-bate. This will create a HUGE incentive to become legal.
This NRST really galls the leftists. How can they 'soak' the rich with a scheme like this? Its not 'progressive' enough for them. Even though the rich buy the high cost items and will pay the bulk of the taxes.. with NO POSSIBLITY OF LOOPHOLE. LOL
There's a whole lotta arguing about those economics - I really don't care tho if prices rise. Experts tell us that they won't. Either way, the benefits we get from this overall FAR outweigh the bad parts. JMHO
which is another reason the dems will fight this all the way. They have a habit of going against what is good for the country if it means keeping the Republicans from looking good.