Consumption tax only with a monthly rebate check to cover the cost of living - to protect the poor and middle class - is a great idea.
A flat tax is a very bad idea.
Someone making 100,000 a year can easily afford 15% or $15,000 because so much is left over to live on.
However, someone making $20,000 a year giving up 15% or $3000 means there is much less to live on.
Someone making $20,000 shouldn't be shouldered with the responsibility of paying the operating costs of government.
The Fair Tax really is a fair tax. It would encourage savings. Those that spend the most money pay the most money. If you're poor and save money to
improve your circumstances then you pay no taxes. If you're rich and spend no money you also get to keep your money.
Basically you get to keep what you make and how much you make doesn't matter.
edit on 8-1-2013 by MegaMind because: (no reason given)