And if you that Congress will keep the flat tax and make everyone pay the same rate, you are naive. We both know that in the very bill that creates the flat tax there will be goodies for various companies so that they either don’t have to pay it or they will pay a reduced rate. And every year it will get worse and then they will start changing the rates to make it more “fair”.
No, the fair tax will not go into effect until the 16th Amendment is repealed.
This is why the Fair Tax must be a Constitutional Amendment, not just a law. Any real tax reform bill which doesn’t begin with the section “The Sixteenth Amendment to the Constitution of the United States is hereby repealed” is a non-starter.
The states gave up their power to appoint senators, white men shared the vote with women, white society eliminated black slavery.
While I would not bet on it, don’t count the FT out.
if you think for one minute that congress is gonna enact this sales tax and abolish the income tax, you are sadly naive. a flat tax that includes all Americans is more fair, less complicated, and cheaper than this monstrosity.
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What you said. And besides. It would require poor people to finally own up to and pay their fair share of the burden that is currently left to “rich white folks”.
And we all know Obama-trons would NEVER support that idea.
It punishes those who saved for their retirement by adding a new high sales tax to income taxes already paid on their savings.
The Fair Tax as explicated by Neil Boortz includes one element that is identical to the very worst and biggest single negative of the current iteration of the Income Tax. It takes the “poor” essentially off the tax rolls with the “prebate” and leaves in place a whole class of people who pay no tax and are therefore a ravening constituency for ever greater spending and higher rates. The prebate will also drive low earners off the books and into the drug trade etc just as removing great numbers of people from the necessity of paying the income tax does now.
Better would be a flat 9 or 10% personal income tax with no exceptions, deductions or exemptions accompanied by no cap gains tax and no business taxes.
Sadly, I don’t think it will pass congress. In an ideal world, I would love to have this as our tax system but I’ll still support it because I think it’s a great idea. A flat tax still isn’t as good as the fair tax for many of the reasons I list. But at least a flat tax could pass congress.
Agreed. The Fair Tax will create the largest Black Market of all time. A flat tax is the only enforceable solution.