Get your duct tape out, because when you pose this question to a fairtaxer, their heads usually explode in a fit of pure rage.
FairTax would put the government in the business of market manipulation. Artificially causing prices to rise by legislative fiat to fill their coffers. Tell me what is "fair" about that.
What do you think deficit spending under the current tax system is? Debt that is directly pumping new fiat dollars into the economy creating inflation that results in increased taxes as all nominal wage and income rise in response to that inflation.
Not only does the AMT trap an evergrowing number of tax payers into ever increasing taxation, the basic rates at which income and wages are taxed assures ever growing dollars revenue into government coffers.
Defitcit spending is one of the more certain ways to assure montary inflation to keep the spigots open.
But that that is the purpose of the income tax as laid out by the Chairman of the Federal Reserve bank during FDR's administration. For the Intent of the individual income tax is for political and social control not revenue collection. As well as the fact the Individual Income tax is maintained to establish and hold every person in the country perpetual legal jeopardy. That is a situation that must end with the repeal of the income tax from the statutes, and the prohibition of its use by Constitutional amendment that future generations will not face the same manner of manipulation and interference in their lives.
| "As a matter of fact, what the income tax does — and this is the debate that I think we always try to get into in order to let you and him fight, see — and the people of this country are led down a path where the actual control of their resources, which in the end is the control over their will, is handed off to the government." . . . "The government then manipulates that will in order to destroy the freedom of our electoral system through the income tax structure, and we call the resulting slavery a free system." "In point of fact, it is not as the founders understood, and the only way to restore real freedom is to give people back control over the income that they earn so that they won‘t, at the voting booth and in other phony issues, be subject to that manipulation." |
That is rich. The fair tax will turn the legislature into the Federal Reserve Bank. Connecting some weird dots there, boy.