Fair Tax yes, flat tax no. Flat tax is what our current tax started as. Fair tax puts the power of taxation back in the hands of the People, where a “volutary” tax belongs. It incentivizes the Federal Government to really truly get out of the way of the economy. The more they muck it up, the lower the tax revenue, so if they want to increase revenue, there has to be real jobs being created, not government jobs.
It’ll require a Constitutional Amendment shoved upon the FedGov against their will from the States. It will have to remove the 16th, and if we’re wise, we’ll include language limiting the percentage right in the amendment, AND language limiting the Federal spending to specific Constitutional items.
Thanks for you post. I have to admit, I'm not "up to speed" on the implications of the various alternative tax solutions. So allow me to clarify my position briefly:
First, the current IRS Tax Code AND the IRS as the enforcement agency for it must be abolished. Period. Kill the beast.
Second, any replacement for the current tax code must fit on one page and everyone ... and I mean EVERYONE pays taxes. None of this "EITC" crap re-distributing wealth to people who don't pay taxes in the first place.
Either each and every one of us has "skin in the game" going forward or inevitably we'll end up right back where we are today. That's not acceptable in my view.
I'll have to read up more on the Fair Tax -- if it meets the second criteria above, I'll be all for it.
Thanks again for your post, I'm off to read up more on the Fair Tax.