Human capital formation would collapse under a Fair Tax scheme. Can you imagine having to borrow ANOTHER 30% to pay for college? At 30 grand a year this would be another 10 and further lengthen the payback for loans.
No one who is in favor of FT can explain how putting such a burden on real estate and mortgages would have any result except collapse. This plan is a disaster waiting to happen.
"No one who is in favor of FT can explain how putting such a burden on real estate and mortgages would have any result except collapse. This plan is a disaster waiting to happen."
The beneficial aspects of the FairTax as it relates to home ownership have been explained many times on FR over the years. If you missed them, just go to www.fairtax.org
"Human capital formation would collapse under a Fair Tax scheme. Can you imagine having to borrow ANOTHER 30% to pay for college? At 30 grand a year this would be another 10 and further lengthen the payback for loans."
The FairTax does NOT tax education expenses. Because of that, education expenditures are made with PRE-TAX dollars, which is a huge advantage over the current system.
All you guardians of the status quo should get together and get your paranoias in alignment.