The Fair Tax is a fine idea. However the problem is the following: Every country that has put a NRST or VAT in place ended up with that and an income tax.
The only way this works is if the 16 Amendment was repealed, and that simply won’t happen.
If for example the Fair tax was passed during the Bush years, is there ANY doubt that Obama, Reid & Pelosi would have put a millionaires ‘only’ income tax in place in 2009/2010, in the name of fairness of course. I have no doubt that that will happen if the Fair Tax is passed as soon as the rats control the gov in the future.
The Flat Tax isn’t perfect but it is safer politically at this point and would accomplish the same goal, Especially if dividends and cap gains are taxed at the same rate and business taxes are eliminated.
“Every country that has put a NRST or VAT in place ended up with that and an income tax.”
The FairTax is not a VAT and eliminates any potential VATs.
The FairTax abolishes the Income Tax and sets in motion a repeal of the 16th Amendment else the FairTax ‘sunsets’ meaning it ceases to be law.
The American public will not allow both taxes to exist simultaneously. A fine example existed right here in liberal Washington State when the father of billionaire Bill Gates III tried the old ploy of introducing a 1% income tax and was soundly defeated.
The Washington State sales tax is near 10% but takes care of most government functions. Even among the liberal minded voters of this state there is no appetite to add a millionaire’s tax and I can assure anyone that is the way it will be under the FairTax.
Repeal of the 16th Amendment is not impossible and not far fetched. In fact it is now more popular to discuss its repeal than ever before. And under the FairTax it will become a national priority.