The Fair Tax is the closest we have come to ridding ourselves of the burden of opressive income taxes. It has legs, it has a bill in the house, it has co-sponsors and it has the ear of the tax panel. We may not get it in its proposed form but we sure do have a chance. If we don't grab it now we may not have another chance in our lifetimes.
I have been a layman economist by necessity for 25 years. I'm not an expert but when I hear that international corporations will relocate jobs and headquarters here in the US because of the FT I believe them. It only makes sense to situate your company where corporate taxes, whether income VA or other are not burdensom.
I can't imagine the explosive growth that will occur under a FT. Yes prices will rise, yes it will be a difficult transition. New home prices? Yeah that's a problem but escalations of 10-20% a year in the price of homes in my neighborhood has not stymied demand.
We can argue details till the sun goes down but I'll tell you right now nothting one the table that I know of would be as good for the economy as the fair tax.
Yes, and think of the incentive to corporate relocation to here that is offered by Sec. 905 of the FairTax bill!!
to #324:
Agreed...