“ANY new tax regime introduces uncertainty into the mkt...”
Even if that were the case in the short run, it clearly would not be the case in the long run if you assume that the new system would be more stable and predictable than the current one. Given the extreme high level of uncertainty associated with the current system, that would seem to be an easy threshold to meet.
“The exception to this WOULD be (it hasn’t been through all of history, but perhaps this time we’ll get lucky) a new tax regime that, presumably by its stringent definitiveness, would reduce uncertainty. The ‘fair’ tax doesn’t begin to meet this standard; hell’s bells, you lot can’t even offer a clear and complete and consensus description of how this mystical ‘prebate’ would operate.”
The FT is by far the simplest and easiest tax reform proposal to understand and much, much, much simpler than the current system. If your objection is that it still isn’t simple enough, then it would seem that no tax reform proposal would ever meet your exacting requirements. The irony in that is that the default position is a system which miserably fails the standard that you are establishing for any new tax system.
‘’In the long run, we are all dead.’’ — J. M. Keynes