my comment:
Another flaw is making the assumption, as if a rich person writing this article to hide the fact, that today the rich do not pay taxes per say. Congress has amended the last flat tax we got from President Reagan, who signed that flat tax in to counter the effect of a free trade policy with an closed border tax structure in place. Congress has amended the IRS tax code over 1,200 times, selling their soul to the devil in the process and now want to hit the reset button of another flat tax to do it all over again?
Also, rich people don't have incomes. Their wealth comes from many other avenues and one that has drained the USA of wealth is off shore investments and savings.
The poor and middle income will benefit the most as their plight has much to do with no good paying jobs. By not taxing production, jobs will flood back tot he USA and all those jobs we lost over the past 30 years under the last flat tax will come back. There will be more jobs then workers, which will promote inflation caused by wages, something not allowed since the 1913 Federal reserve started controlling Loan interest to keep unemployment at 5% or higher, thus providing an over abundance of employees.
The other factor and most important, today, all federal taxes are being placed, embedded in domestic product prices to pay for them by the employer. By switching to a consumption tax, we take those out lowering product cost and with the prebate and workers keeping their gross paychecks, the adding of 23% of that embedded tax price, it is a near wash in cost to Citizens. The 30% exclusive tax is what brings the price back to the same cost of before deducting the 23% embedded tax, providing a neutral level of tax revenue to the Federal Government.
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If everyone knew all there is to know, they would not do half the things they do, including myself, therefore I must foregive them, including myself.
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