Because the end results combine the worst of capitalism (the rich get richer and the poor get poorer) with the worst of socialism (guaranteed government income rebates). Because its proponents have no grasp on the consequences of this scheme. Because it will invariably lead to one of two results: a litany of exemptions and loopholes making it no different than an income tax system, or widespread income inequality that would make today's already-strained situation look like an egalitarian paradise. The high-income earners would pay nothing while they profit off their stocks and investments, while the single mother struggling to get by is paying 30% to feed her children. Does that sound like a good idea to you?
I do not consider myself a socialist, but just as I don't think it's the government's job to soak the rich to pay the poor just for its sake, neither do I think they should soak the poor. Equal protection is in our Constitution. Our tax code should reflect that.
The poor spend more, as a percentage of their income. That's not because of irresponsibility; it's because, at a baseline, we all have the same essential needs. A consumption tax alone would thus hurt the already hurting.
I was a fan of Herman Cain's 9-9-9 plan: it was broad-based and diverse in its approach to taxes. Everyone pays in. The FairTax does not; instead, it disproportionately hurts people who can least afford it.
I had to go visit with the neurosurgeon who performed my surgery today so I'm late getting to this
@jmyrlefuller but would you mind explaining to me just how allowing you to keep your entire paycheck (zero federal deductions period) favors the rich over the poor?
Then perhaps you can tell me how being able to earn all you want to earn, from any source you want, without having to think about taxes, even for a second, favors the rich over the poor.
Then maybe you can explain how the federal government not knowing how much, or from what sources, you derive your income favors the rich over the poor. And then you can tell me how protecting you from paying ANY taxes what so ever up to whatever the DHS says the poverty level is favors the rich over the poor.
After you get done with that, you might tell me how wringing out ALL of the taxes and compliance costs currently hidden in the prices of every thin produced in this country favors the rich over the poor.
I have MANY more such question should you be willing to answer them.
And BTW: Herman Cain is a HUGE proponent of the Fairtax!