Mr Layman, I agree with most of your post. But two things about the Fair Tax really bother me: what, exactly, would stop Congress from raising your 30% sales tax to 31% a couple of years down the road? Then to 32%, 34%, 40%? Just like they do with postage rates?
And: what would a 30%+ sales tax do to our consumer-fueled economy?
Because I remember the economy in the 1970′s and 1980′s. Unemployment approached 10% – for years at a time. Inflation was running in double-digits. Interest rates were astronomical: the GI Bill for home purchases was 17 1/2%. A home purchase with an FHA loan was at an 18 1/2% interest rate. Stagflation bogged down the entire economy. Stories in the media routinely reported such items as Ph.D’s picking ferns for florists in Oregon, and driving cabs in NYC.
The economy could hardly be any better than it is today. Home loans are under 6%. Unemployment at about 5%. Inflation is extremely low by historical standards.
About 99.9% of the hand-wringing comes directly from the media, who use their propaganda organs to constantly tell Americans how bad things are. They have an agenda.
But the economy is, in fact, in excellent shape. Some of us have lived through a crappy economy; we know when we’re being lied to.
