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5 Responses to “Flat Tax vs. Fair Tax on Fox Business”

1. Betty says:

   January 20, 2008 at 3:12 pm

   The Fair Tax is superior in many respects:

   1. The Fair Tax eliminates the Orwellian reporting which requires our employers, business associates, banks, brokerages to report the intimate details of our financial lives to the Federal Government. The Founders of this great nation NEVER envisioned such a system.

   2. The Fair Tax removes the ability of the Federal Government to reach into our paychecks and confiscate the first fruits of our labor, before we’ve tithed, taken care of our families or saved a penny for retirement. Under the current system, we’re slaves to the Federal Government. The Founders never envisioned that either.

   3. The Fair Tax, as a tax on consumption, is the only proposal that is eligible for full border adjustment, which will place US manufacturers on an equal footing with foreign manufacturers for the first time in over 30 years.

   The Fair Tax is superior to the Flat Tax in every respect.
2. David O'Rear says:

   January 20, 2008 at 8:24 pm

   Betty,

   Exactly how much money would the Fair Tax raise?

   To the nearest billion, if you please.

   OK, 100 billion.
3. Betty says:

   January 21, 2008 at 9:44 am

   The Fair Tax is calculated to be revenue neutral and will raise, rough justice, 1,800 billion.

   Please see Macroeconomic Analysis by Art Laffer’s firm, here: http://www.fairtax.org/PDF/MacroeconomicAnalysisofFairTax.pdf
4. David O'Rear says:

   January 21, 2008 at 8:54 pm

   Betty,

   According to the Congressional Budget Office (as of August 27, 2007; the data is here: http://tinyurl.com/29jxe7), the revenue needs for 2008 are US$2,925 billion.

   Question: were you planning on increasing the debt by an additional $1,125 billion this year, or did you forget that every budget is equal parts income and out go?
5. Betty says:

   January 23, 2008 at 10:11 am

   David,

   You are comparing revnue needs with actual revenue generated–apples and oranges.

   The Fair Tax is calculated to be REVENUE NEUTRAL. It will bring in the same amount of money as the current system.

   If you want to bring the deficit down then the rate will have to be higher under either system or the sailors in Congress are going to have to sober up.

   This is not a valid criticism of the Fair Tax. It is a criticism of the lack of fiscal responsibility in general.

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