g5000
Diamond Member
- Nov 26, 2011
- 125,228
- 68,944
I like the Fair Tax because you cannot hide a tax increase in it. If they raised the Fair Tax from 23 percent to 24 percent, everyone would feel it immediately.
But as I pointed out earlier, a Fair Tax does not preclude special interests from bribing Congress into putting exemptions into the Fair Tax Code. Exemptions from the Fair Tax for milk, yachts, coal, peanuts, whatever can be put into the tax code. And so it is just as prone to corruption as our current tax system is.
The loss of revenue from all these exemptions will require the Fair Tax be hiked to make up the difference. Just like the current system of exemptions, deductions, and credits forces our tax rates to be higher.
ANY tax code will fail unless it specifically states there will be NO exemptions, deductions, or credits allowed.
Not one Fair Tax bill has had such a provision in it. And that is because incumbents are not going to shut down their personal cash cow. They want and seek those bribes. They will take campaign cash in exchange for special interest carve outs.
Tax expenditures are the disease. It must be cured.
But as I pointed out earlier, a Fair Tax does not preclude special interests from bribing Congress into putting exemptions into the Fair Tax Code. Exemptions from the Fair Tax for milk, yachts, coal, peanuts, whatever can be put into the tax code. And so it is just as prone to corruption as our current tax system is.
The loss of revenue from all these exemptions will require the Fair Tax be hiked to make up the difference. Just like the current system of exemptions, deductions, and credits forces our tax rates to be higher.
ANY tax code will fail unless it specifically states there will be NO exemptions, deductions, or credits allowed.
Not one Fair Tax bill has had such a provision in it. And that is because incumbents are not going to shut down their personal cash cow. They want and seek those bribes. They will take campaign cash in exchange for special interest carve outs.
Tax expenditures are the disease. It must be cured.
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