[Tatze]

...a wealth tax where the wealthy as well as the poor and everyone else are taxed at a low fixed percent on the value of what they own each year. Any kind of income tax will be unfair in one way or another.

This is a terrible idea. You would be taxed year after year again on the same wealth.

The FairTax is a tax on consumption, not income. The rich will buy more, and therefore will pay more. The huge underground economy of drug dealers, and other criminal activities would be taxed, foriegn visitors would be taxed, illegal aliens would be taxed.

Plus with no corporate taxes, the US would become the largest corporate tax haven in the world and all the companies moving thier headquarters off shore would be fighting to get back here the fastest. Foriegn companies would re-locate their headquarters here.

This should be a no-brainer!

[squirt-gun]

Re # 32.... This is a terrible idea. You would be taxed year after year again on the same wealth.

Well...No.

Annual Wealth would increase just like it does for most Americans now after taxes. Moreover, with waste reduced from no more drone give aways, annual tax rate would decrease via balanced budgets.

Now granted, if the tax rate were, say 1%,.... Senator Kennedy, as an example, would have to cough up 1% of approximatelu 73.5 million dollars each year which is not a trivial sum. But for most Americans, 1% of net wealth after debt reduction would be a god-send and lower their tax.

As for Senator Kennedy, he would have to find gainful employment.

Have a great day.