One subject that nobody ever discusses is the effect of a NRST on other nations, particularly those that aren't free. The FairTax would transform the US into the biggest tax haven on the planet for business. As a FairTax America begins to siphon off jobs, businesses, talent and brains from nations with a socialist (or worse) economy, they will have to make changes just to stay alive. Either economic totalitarianism or freedom will be the result.
Control freak nations like Islamic states and communist holdouts will have to grant freedom to their citizens, or become our economic slaves.
This free economy, coupled with a transparent from of taxation, will rock the world.
Worth repeating.
And so it is. Whether from the left or the right, there is broad agreement we are on a path that is unsustainable. As David Walker at GAO stated in November 2005, “”We face a demographic tsunami” that “will never recede.” And more recently, “Our current course doesn’t just threaten our future economy and quality of life, but also our long-term national security.”
The first country to implement a consumption tax as the sole means of funding the government. Considering international tax competition it's not a mater of if, but when.
The first industrialized country that converts to a consumption tax will have such an advantage over other countries in gaining new jobs, business and economic boom that other countries will have to follow suit or else suffer job losses and economic slow down.
It will be an upward spiral of prosperity and freedom leaving in it's wake a downward spiral of poverty and enslavement. United States can lead or follow. It makes the most sense to lead. As it is already at the front lines in the war against terror.
The great escape. The real effective and winnable global war on poverty