If a national sales tax was used how do you acount for the heinz's,kennedy's, and gates of the world who already have their considerable nest eggs? How do you account for interest on their billions? I would be real scared about the possiblity of them turning into a new breed of emperor and would insist on the elimination of all these trust funds and would also insist on a severe death tax for these billionaires and some sort of limitation on before death transfers. A sales tax structure could be the underpinnings of a new rulling class, far worse than anything we have now if such money is allowed to accumulate. Just some things which would have to be taken into account in my view. I'm imagining Little George Soros the VIII in 2050 and its causing me chills.
"If a national sales tax was used how do you acount for the heinz's,kennedy's, and gates of the world who already have their considerable nest eggs? How do you account for interest on their billions? I would be real scared about the possiblity of them turning into a new breed of emperor and would insist on the elimination of all these trust funds and would also insist on a severe death tax for these billionaires and some sort of limitation on before death transfers. A sales tax structure could be the underpinnings of a new rulling class, far worse than anything we have now if such money is allowed to accumulate. Just some things which would have to be taken into account in my view. I'm imagining Little George Soros the VIII in 2050 and its causing me chills."
-- The super rich don't have to pay taxes as it is! If you had $1 Billion, you could earn $40 Million a year off municipal bonds and not pay a dime in taxes. Not even Payroll taxes! Under the FairTax, when they spend their fortunes on frivolous crap they've gotta pay for it. Not a good argument because you've got it backwards.