|
Classicman's charts above demonstrate one of the problems so that even the most blindly ideological should be able to see.
A common demoninator of every flat or fair tax proposal is that they lowers the tax obligations of the top taxpayers at the expense of the middle class.
On the other side of the equation, such taxes never generate the level of revenue projected because they are based on ideological assumptions of economic growth (voodoo economics) at unrealistic levels with no basis in fact.
The current fair tax proposal that is floating around calls for a 23% VAT (sales tax). Independent analyses of the proposal suggest that it would take a VAT tax of at least 34% to be revenue neutral.
|