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Flat Tax Vs. Fair Tax Vs. Herman Cain's 9-9-9 Plan - Nathan Lewis - New World Economics

The author is not completely informed on the Fair Tax. He fails to discuss the vital component of tax 'pre-bates', which are monies rebated in advance to every citizen in the amount of the tax rate multiplied by the average cost of living expenses- food, shelter. Lower income individuals do not pay taxes. All the visiting foreigners will be effectively sponsoring our entitlement programs to some extent, where they are not now, as their expenditures are currently only taxed at a menial level. Those that spend money on expensive items-yachts, etc from inherited wealth will contribute significantly, where they do not now.

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Beginning of the headline : For a number of years now, people have asked me whether I prefer a “flat tax” or a “fair tax.” Both are problematic. The “flat tax” is typically conceived as a replacement for the existing personal income tax.This is fine, but it ignores the payroll tax, which is really just another form of income tax... Read More

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