"The flat tax and the FairTax share some important similarities. They are both flat-rate taxes that are neutral with respect to savings and investment. The flat tax, however, retains the invasive income tax administration apparatus and can easily revert to a graduated, convoluted mess, as it has many times over many years.

Very few people really understand the flat tax. Its authors will tell you it is a consumption tax that uses the income tax system for implementation. Only an academic or government bureaucrat would dream up a consumption tax that needs the invasive income tax apparatus for its application, when one can simply have a retail sales tax and reduce the bureaucracy by 90 percent or more! In addition, a large part of the burden of the flat tax -- the business tax -- will remain hidden from people in the retail price of goods and services.

In contrast, the FairTax is simple, easy to understand, and visible. It cannot be converted into an income tax."


Quote Originally Posted by denuseri View Post
The only issues I have with flat tax, is the institution of a coorperation with limited liability will be the sole prime benefactors, while all the rest of us who are not super rich will have our taxes nearly trippled to fill the void. So long as faceless corperations are being treated with all of the perks of "personhood" with none of the responsabilities, any such endeavor will do far more harm than good.

If each company was owned by individuals who are fully liable then and only then would I support a fair tax em all you want position. Though I am sure that has its own drawbacks.

As for a full on redistribution of wealth...smh..we havent ever even got close to that in the United States. In fact no one anywhere really has short of a few handfuls of hippie communes and the Hutterites.

Additionally I seriously doubt "global" corpperations of american origin or otherwise will ever allow the politicians that they own lock stock and barrel in several countires to take away their sacred profit margins.

Nor do I believe will the extremely wealthy individuals that are out there support any such endeavor, for they gain nothing by it.

Even the full blown "communist" countries failed to fully redistribute the wealth nor control its redistribution in any kind of productive manner in anything more than "theory" and that was the basis for their very rise to power on the ignorant massess proverbial backs.

Sadely...it is greed..imho...that ultimately rules the day when all is said and done.