Too many speak without indepth knowledge of the FairTax. It has been introduced as HR 25 in the house... Bachmann did not support it... hopefully because she did not understand that it is offered as a REPLACEMENT for the Income Tax and not because she is a tax litigation attorney. The bill requires REPEAL of the 16th Amendment. The Flat Tax is a headfake... still an income tax and easily returned to multi-tax rates. For starters...
The FairTax replaces the Income Tax and...
1. Ends - Filing of income tax returns!
2. Ends - IRS audits and fines!
3. Ends - IRS costs of $460 billion/year!
4. Ends - Tax code abuse for political gain!
5. Ends - Tax free underground economy!
6. Ends - Tax on businesses (creates more jobs)!
anyone can go on thomas.gov and see this joke.
you will have tax statements.
you will have tax purchase audits (seiu will not let the union irs contract be abandoned)
you will have NuIRS instead of old irs. see INC, to BCIS to USCIS.
you WILL have tax code manipulation for political gain. (donate and your product will be a prebate necessity)
you will expand the underground ecconomy. you will benifit outside the usa. ever hear of the internet?
business WILL pass any sales tax onto the consumer. (business 101)
What do you mean by she did not support it? Has the House voted on this and Bachamnn voted against it? Or just that she's not a co-sponsor of the legislation?
You can make great arguments for both the flat tax and the fair tax, but the Democrat opponent is going to go out and flood the airwaves with ads saying you want to “slap a 23% tax on everything you buy. On bread, milk, gas and medicine”. And you never get the chance to explain the upside of your plan because the sheeple swallow that hook, line and sinker.
At least that’s how it played out in PA 12. I had hoped for better but was badly disappointed by how effective that was.