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Flat Tax or Fair Tax?

DVangura Wrote: Jan 31, 2013 11:42 AM

I would rather that my investments grow without the government stealing from my earnings. That is the benefit everyone extolls about retirement accounts (IRA, Roth IRA, 403b, 401k etc. etc.) The problem with a flat tax is that it eats into this growth of capital. Whereas, a constitutionally set consumtion tax on end-products (not a value-added tax that is added at every level of production) would leave investment capital to grow.

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Frank158 Wrote: Jan 31, 2013 1:50 PM

You nailed it! Now let's have a balanced budget amendment based on a percentqage of GDP of the average of the preceding 5 years. If they want more revenue they have to get off the backs of business to let the economy grow. That along with a cap on spending and a sales tax divided to support each level of government so you can see the rate on your regester receipt. Most current taxes are hidden from view and we have no idea what we are paying.. Limit tax to the final consumer who is paying it all now. Corporate tax is a scam, it is passed on the the final consumer.

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Flat Tax or Fair Tax?

I’m at Hillsdale College in Michigan for a conference on taxation. The event is called “The Federal Income Tax: A Centenary Consideration,” though I would have called it something like “100 Years of Misery from the IRS.”

I’m glad to be here, both because Hillsdale proudly refuses to take government money (which would mean being ensnared by government rules) and also because I’ve heard superb speeches by scholars such as Amity Shlaes (author of The Forgotten Man, as well as a

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