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Contrary to what Neal and other fairtax proponents would have you believe, the fairtax would actually give much more power to the politicians, by completely obscuring how much you pay per year in federal taxes. Now when you fill out your federal tax return each year, you know exactly how much you paid per year, down to the last penny. Not so with the fairtax...not unless you kept every single receipt and added the tax up for everything up at the end of the year. Plus you'd have to keep a running tab of the fairtax on things which you didn't get a receipt for, such as credit card payments, rent payments, etc. Think about it...do you have any idea of how much you paid in sales tax last year? By obscuring how much you actually pay each year in federal tax, in effect it would give the politicians even more power over how they spend your money. <br> <br> And Neal claims that the fairtax would bring more money to the US. He conveniently ignores the fact that 66% of corporations already don't pay any federal tax at all (according to the GAO report GAO-08-957, released July 2007). Furthermore, the fairtax would create a huge flux of money OUT of the US, at the consumer level. If the fairtax were implemented, a string of car dealerships would pop up just on the other sides of our Mexican & Canadian borders...why pay an additional 30% (= 23% inclusive rate) for a car when you can fly to Mexico or Canada, buy a car there, and drive it back home for much less? Saving possibly tens of thousands of dollars less? Most people would no doubt make as many of their other high end purchases such as electronics, jewelry, etc. out of the country as possible. The fairtax could potentially siphon trillions of dollars out of the US economy.
By Dave
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