Absolutely wrong! I'd be for the Fair Tax if it wasn't for the "prebate". That's the equivalent of a welfare payment to low income earners. Once you put that in, you open the door for politicians to play dangle-the-carrot again. Get rid of the prebate and I'd support it, with the understanding that the income tax goes away.
Recently, Indiana has almost a 4x increase in property taxes and there was a state-wide rebellion. The politicians said: "Ok, we'll roll the property taxes back to their original levels (plus 2%) if you'll give us a 1% increase in sale taxes." It took then 6 weeks to change the sales tax figures and over 3 years to adjust the property tax levels. Canada accepted a VAT tax with the promise that the income tax would go away. Canadians are now paying both. If you're going to seriously consider this route, you better make the law airtight!
Prebate is designed to provide the basic necessities of life tax FRee for ALL families LEGALLY residing in the USA. They have to have a REAL SSN for ALL family members to qualify, and it is a voluntary prebate; if a family chooses not to take it, they just don’t sign up for it!
And, since the prebate is based on the poverty level for a given family size, it cannot be easily manipulated.
It most definitely is NOT “. . . the equivalent of a welfare payment to low income earners.”
The FAIRtax legislation defunds the IRS two years after adoption, and calls for repeal of the 16th Amendment. Repeal of 16th requires separate legislation, and every Congress that FAIRtax has been introduced, has had companion legislation calling for the repeal of the 16th
Amendment.
Politicians are slippery creatures, and voters need to hold them to account; when they don’t do as they promised, they need to be turned out of office!
I’m in favor of term limits! Term limits would help us drain the swamp!
I would much prefer a national sales tax to the current system but unfortunately there is about a one in a million chance at best of ever passing it unless it is IN ADDITION to all the current taxes. We will become Venezuela 2.0 before it happens.