23% of GDP is a whole lot of money!
23% of GDP is a whole lot of money!
True, 23% of GDP may be a lot of money.
However neither Federal revenues, nor the FairTax is 23% of GDP. Both are lower than 23% of GDP.
A nice try as misdirection however.
GDP includes busines investment and inventories. Neither are taxed under the NRST.
http://www.colorado.edu/Economics/courses/econ2020/section6/GDP-components.html
Um yeah, government spends too much, we know. But given that government needs to exist and spend some amount, it needs a way to collect taxes. The income tax is a spectacularly bad way to do that; the FairTax, while not perfect, would be a substantial improvement.