I've run the numbers, and I would be paying far more than I do now. With the assumptions in the fair tax act, ie. the cost to manufacture something will come down, so the cost of goods will be lower, is the grossest of assumptions.
Foreign manufacturers are not about to accept a lower standard of living so that we can enjoy a tax cut.
ie. the chill in the retail sector with the 23/30% addition to the cost of items not including High ticket stuff like cars, boats, etc. will be felt all the way to the bank.
ie. the pure unknowns.
ie. the first system must be completely dumped including various amendments to the Constitution of the United States of America, before allowing another means of taxation to the government that is taxing us now.
ie. allowing any exception or exemptions to any tax scheme is to allow a race war between the perceived haves and have nots to determine the direction congress will manage the "system" in the for and unforseeable future.
There is oh so much more.
A switch to a sales tax is a tax on current wealth.
Any consumption tax is a tax on current wealth as it only tax on the basis of what is spent out of wages earned whether current or delayed taken from investment or savings to purchase from businesses paying taxes.
That is true of a flat tax on wages earned and business earnings, and VATs as well as any full income tax which levy taxes both consumption as well as production.
The plan is working!
Yep getting the IRS out of the life of the individual household certainly is.
| I discussed the importance of abolishing the income tax because of its tendency to form a habit of servility in the souls of a people that accepts it. Servility of soul is bad not only in itself, it is also an open door through which will soon walk the abuses of ambitious government power. Leaders who find themselves with governmental power over a servile people will be quick to conclude that such a people exist to serve them. |
"A hand from Washington will be stretched out and placed upon every man's business; the eye of the federal inspector will be in every man's counting house....The law will of necessity have inquisical features, it will provide penalties, it will create complicated machinery. Under it men will be hauled into courts distant from their homes. Heavy fines imposed by distant and unfamiliar tribunals will constantly menace the tax payer. An army of federal inspectors, spies, and detectives will descend upon the state."
-- Virginian House Speaker Richard E. Byrd, 1910, predicting the consequences of an income tax.
Patrick Henry, Virginia Ratifying Convention June 12, 1788: