[Hostage]

>”The majority of the politicians in Washington don’t want to fire up the economy so the fair tax has no chance.”

To be clear you mean to say the FairTax has no chance among the political class of the Beltway. This is true but it’s amazing how these clowns start to tap dance to our tune when we threaten their political viability.

The FairTax is the largest tax reform by more than tenfold among the political class. There is no other tax reform that even comes close to the number of sponsors in Congress held by the FairTax. This large number of congressional sponsors is even larger than the number supporting Ronald Reagan’s 1986 tax reform. So it is not a fringe movement. It is big stuff.

It is Wall St. that stands in the way of the FairTax because Wall St. has worked for decades to get all skids greased for their 401k and deferred retirement plans which is essentially dead money made into play money for the greedsters on Wall St.

Under the FairTax there will be no need to defer retirement income under IRS rules to Wall St. 401k rackets, because there will be taxing of income period.

Right now Wall St. has a near mandated gravy train of play money driven by people wanting to put away retirement funds under a number of tax deferred schemes. Under the FairTax we ruin their dollar utopia.

But there are not that many of them compared to the rest of us. All that needs to be done is get the word out and get people educated because there is one hell of a lot of disinformation put out by the NY financial press as surrogates of Wall St. investment moguls against any tax reform that threatens their fiefdoms.

That’s really the crux of the battle:

Wall St. and their minions on K St. against the American people.

But history shows that when Wall St. loses battles in Congress they are pretty good sports and they cut their losses including their power. But damned if they don’t know well how to come back from the dead for a resurgence of bubblemania and influence inside the Beltway.

STUDY UP!
http://www.fairtax.org/site/PageServer?pagename=about_faq

[albionin]

I have studied it. It would not only set this country on fire and have many companies around the world chomping at the
bit to get here, it is also a moral tax code being voluntary. I think it would be the greatest thing since the founding and the ending of slavery. I just don’t think it has a chance of being implemented in the current philosophical climate of the populace. That could change of course and it would require a massive education campaign.