The idea floated by Mike Huckabee during the campaign - although it was not his idea - was a good one. The Fair Tax would replace income-based taxes in favor of a national sales tax, thereby allowing every working American to keep what they earn and pay taxes as they consume products and services. For anyone who believes that the "rich" must pay more because they can, this is their baby, because Bill Gates will certainly pay one heck of a lot more on his new car or yacht than I will on my thirty dollar speaker system for my computer.
Amused as I have been by so-called economists who have gone out of their way to denigrate the Fair Tax, the level of incredulity has reached new heights that would be laughable were it not so terrifying. For as much as they claimed that the plan would yield not nearly enough to sustain the economy, former opponents to the idea of the Fair Tax now claim with equal fervor that it is the best revenue-producing conception they have seen. The only problem is, they don't want to replace the income tax system...they want to add to it.
Yes, the current "Axis Of Taxes" - a term I gleened from a brilliant Tea-Party-goer in Chicago - of Obama, Reid and Pelosi have determined that, having spent virtually every viable cent in the nation, that they need a new source of revenue. That, ladies and gentlemen, would be us. What's frightening is the incoherence of this new plan and the complete lack of comprehension on the part of our elected leaders where the health of our economy is concerned.
In true socialist fashion, they view the people they allegedly serve as cash cows whom they can tip in the middle of the night like so many drunk and visiting city teenagers. While the current administration claims to endeavor to spur our sputtering economy, every action thus far has had the opposite effect, and further taxation on already over-burdened people will spur an even more intense lockdown on spending, which is the ultimate engine of growth. Product demand and consumption are the stuff of jobs creation, after all.
President Obama recently declared that we are "out of money" while conveniently neglecting to mention that it was so because he had spent it all, and then some. Now claiming that more is needed to fund his grand vision of "national health care" - something that has not been clamored for by we the people - Obama laments soaring budget deficits with the sypmathetic ear of congress. As the Washington Post reports:
With budget deficits soaring and President Obama pushing a trillion-dollar-plus expansion of health coverage, some Washington policymakers are taking a fresh look at a money-making idea long considered politically taboo: a national sales tax.If the plan was to finally implement the Fair Tax, I would cheer the move. Sadly, that is not the case, and I am now wondering how long it will take for this terrible triad to destroy America once and for all. Sphere: Related Content