Jim Jordan’s name is not on that list though he insists he is a surporter.
my only objection to the fair tax is if properly implemented, it gives the Fed too much money! (23%)
“Jim Jordan’s name is not on that list though he insists he is a surporter.”
There are a number of house members who will be signing on in the next few weeks. The goal is to have 100 co-sponsors by the end of the first quarter (in the house). Forty seven is a good start. Most, but not all, of last session’s co-sponsors are on that list of 1st day co-sponsors in this session. There are also a lot of freshmen who will be receptive.
“my only objection to the fair tax is if properly implemented, it gives the Fed too much money! (23%)”
“It is a signal advantage of taxes on articles of consumption, that they contain in their own nature a security against excess. They prescribe their own limit; which cannot be exceeded without defeating the end proposed, that is, an extension of the revenue. When applied to this object, the saying is as just as it is witty, that, ‘in political arithmetic, two and two do not always make four.’ If duties are too high, they lessen the consumption; the collection is eluded; and the product to the treasury is not so great as when they are confined within proper and moderate bounds. This forms a complete barrier against any material oppression of the citizens by taxes of this class, and is itself a natural limitation of the power of imposing them.”
Alexander Hamilton in Federalist #21
The current system enables and facilitates higher taxes on some because of its inherent ability to create a system in which politicians hide the true cost of taxation and mete out tax preferences to political allies.