The question is “Which is better, the FT or the current income tax?”
That assumes those are the only choices.
The income tax is salvageable, but it needs to be greatly simplified. 25 years ago there were 2 tax brackets— lower and upper. Now there are 6, plus more deductions, credits and various doohickeys than anyone can make sense out of, so much to the point that the accounting and software industries get a boom every April 15.
We don’t need to throw the baby out with the bathwater to fix the tax code.
I’d encourage you to read the entire article, which points out just how unworkable the Fair Tax is. The tax rate would have to be ridiculously high and apply to all manner of goods and services. It would even result in the federal government taxing itself. Pure nonsense. The private sector retail sales base is simply too small to support a Fair Tax as a replacement for the current income tax.
It needs a little more maturing. In the mean time flat tax or a simplifying overhaul maybe a more workable plan. I will grant, any day of the week, that something needs to be done.
The question is “Which is better, the FT or the current income tax?”The Fairtax doesn't exist. Fantasy is always better than reality.
If one says that the tax is 30%, then they are not talking about the fair tax. The interest rate of 23% being proposed is inclusive. If the interest rate is exclusive, then it’s something else. This is a common misconception about the Fair Tax.