The bottom line, this guy was a genius. He was willing to take anyone's bet that, in the future, any commodity would be cheaper. He was and is always right. Do you know why? Because anything that is a true commodity is subject to the overwhelming influence of a free people who are dedicated to commercial profit.
IOW, if oil stays at 67 bucks a bbl some wildcat will create a way to get more of it out of the ground, some scientist, motivated by profit, will find a substitute, some engineer will find a way for autos to get 100 MPG. Eventually. Always happens. AS LONG AS WE ARE FREE TO EXPLORE, RESEARCH, DELVE AND PROBE FOR PROFIT!!!
So let's put this in the context of the fair tax. Do any of you Squirrels understand the power of a free people? If we make taxpaying voluntary and link it with our fourth most motivating instinct, that of status, we will be economically sent to the stars.
Here is what all of the Procter and Gambel advertisers know: People have three things that sustain them: food, water and warmth. We have to have those three things to live, right?
What is the next motivation? According to most marketers (the people who have to figure this s**t out to make a living) it is status. Our staus in the community, our status within our own families, IOW, we care about how people think about us more than we care about our college winning a football game.
So, do any of you think that the status motivation will not be a huge tax? We are Americans FCOL. We want stuff. Especially if we have "made it". Our motivation for status is strong. If we have money we will spend money. And if we spend money the government will get its share under a NRST.
That is my diatribe on why a consumption tax is absolutely imperative.
I don't care how many disruptions occur or how many people may be inconvenienced, the fair tax, in some form, HAS to be the law of the land. If not, we are nothing but a bunch of slaves to one million bureaucrats and some government structure that we have let get out of control.
Quite so!!!