Over the next 25 years, Congress added FIVE tax rates and more than 18,000 Amendments to the Tax Code (so it is no longer “flat”), at an average of more than FOUR Amendments PER DAY it is in session. Each of those Amendments gave a TAX BREAK to a friend or contributor of someone in Congress, shrinking the tax base incrementally. The result is that we are worse off than we would have been if Congress had done nothing.
American retail prices still have a 26% average federal tax component in their product pricing, imports are still not taxed, Americans still spend more than $400 billion per year on compliance costs, we still have our $1.5 trillion trade deficit, production lines and jobs continue to migrate overseas, the funding for Social Security and Medicare are still Ponzi schemes (soon to be broke), and the IRS collects less than 49% of the Income Tax owed - that figure keeps shrinking and collection costs keep rising, as the Tax Code grows. No, we do not need to try the flat tax again.
Conclusion: we HAVE to get rid of the Income Tax AND its Tax Code. The only tax bill that does that is H.R.25, The Fair Tax Act. It has 48 co-sponsors already. How many does the flat tax have, this time around?
We've never had a flat tax and there is NOT "26% average" federal tax component in our product pricing.
Enjoy the koolaid at the Fairtax meet and greet??