The Founders never intended income to provide a basis for taxation. They believed in taxing consumption.
The FairTax seeks to tax NOT what you contribute to society in the form of work, but what you take from it in the form of consumption. It rewards the frugal contributor and punishes the slothful spendthrift. It fundamentally changes the incentives between work and leisure and spending vs saving.
The point Alan Greenspan was trying to make in his comments before the Tax Reform Panel is that as a nation, we spend too much, save too little; and because work is punished with a tax bill...we work too little. The Fair Tax removes all dis-incentives to work, save and invest for the future.....and that will help us to generate REAL economic growth.
i have found your arguments logical and reasonable, even if I disagree - thank you.
could you poiont out where in the constitution or federaslist papers the founders favored taxes on consumption? I know they didn't like income taxes, but...