If it was a simple sales tax (and that would be the only way it would be better) then it would mean a major shift in our economy away from an army of accountants and attorneys that would suddenly find their livelyhood vanished in a puff of smoke.
Substantial, sudden change like that is NEVER good for an economy.
NEVER!
"Substantial, sudden change like that is NEVER good for an economy."
The only thing better than massive numbers of Lawyers out of work in the US is massive numbers of Laywers ceasing to exist.
Substantial, sudden change like that is NEVER good for an economy.
NEVER!
HILARIOUS!!! I am literally laughing out loud! Poor babies have to make an honest living? HOWLING laughing, here!
Gee... get rid of the parasites currently mucking up the system.
Er...
No. This would NOT be a bad thing. Accountants would still be needed, but would have a much easier job to do.
"Substantial, sudden change like that is NEVER good for an economy."
When Congressman Linder met with Chairman Greenspan about a year ago to go over the FairTax proposal, Mr. Linder started going over the economic benefits. Mr. Greenspan interrupted him to say that he didn't need to do that, since he had gone over the proposal, was familar with its economic impact. He then went on to say that he doubted that you would find an economist anywhere who would disagree, but that the real obstacle would be overcoming the enertia inside the beltway in DC and the tremendous resistence to change.
Of course, Mr. Greenspan was incorrect about not finding an economist anywhere who would argue against the proposal. There are economists who will argue against anything. In addition, as your post so vividly demonstrates, resistence to change is not limited to Washington, DC.
The economic benefits would be enormous.