What's wrong with the 'Fair Tax'?

Huck is a Fair Tax proponent, so if he gets the nomination, I'll get a second mortgage to help ensure the other side, whoever that is, wins the election.

 

I dont think you understand the fair tax; if you did, you'd probably go for it.

It doesnt have a chance, though.. so it's a non-starter. Congress controls the tax structure.

 

Fog. Check out http://www.Fairtax.org I have read it extensively.

 

Okay... I've read it and heard it explained, ad infinitum, by Boortz, but wont say 'extensively'.

What is it about it you dont like?

 

"If sounds to good to be true it probably is". That’s exactly how I feel about the Fair Tax. Here’s one issue off the top of my head out of the current situation.

-We know that by heavily taxing something we discourage the purchase of that item ie cigarettes. Now from the current national conversation it seems clear the consensus is, that consumers through their purchasing power drive the economy. When they stop spending, the economy goes down the tube. Now a Fair Tax is going to heavily incentivize hoarding your money, to avoid taxation. It would seem to me that a fair tax will cause major upheaval in the economy.

-AndyPalmers points about encouraging the spending of money overseas are very well said.

-My last point is purely personal belief. A person who earns 2.5 million a year and a person who earns a 150k a year and a person who earns 20k a year should not be subjected to the same rate of taxation PERIOD. Different people have different circumstances; it is only FAIR to treat them accordingly.

-If I'm not mistaken the Wall Street Journal's editorial board has come out against the fair tax as well, so it’s not just those of a left leaning persuasion who see problems

 

Spencer covers it pretty well.

I also dislike the way it discourages the "classic family" (i.e., stay at home mothers, more than one child), by providing no tax breaks and giving them a higher relative tax burden.

 

I like how they changed the name from "Flat Tax" as if by putting "Fair" in the name you somehow make it true.

 

Flat Tax is supposedly a flat 10% income tax, with no exemptions or deductions.

Fair Tax is a 30% Federal sales tax on everything purchased, with no Federal income tax. (its often described as a 23% tax because 100 is 77% of 130...)

 

Sorry, juxtaposing the two was a misunderstanding on my part. I nonetheless still dislike the use of a name like "Fair Tax".