I seem to recall Ron Paul saying nice things about the FairTax in debates, but I’m old and feeble. There seems to be some ambiguity, but if I misspoke I apologize.
Darrell — every source is impeachable. Nobody in their right mind thinks 23% will replace all the revenue. With your arithmetic, you seem to start with something that costs $100 and after the tax, it costs less. That would truly be a marvelous tax.
Tom — re: my employment, it’s true, baby needs a new pair of shoes. As for the futility of fixing the income tax, actually the ’86 reform wasn’t bad. Most of the others have not improved the tax, by which I mean eliminating loopholes etc. for a broader base and lower rates. This was done in ’86.
taoist — your view on who pays the corporate income tax is echoed by a minority of economists, but includes respectable ones like Richard Musgrave. And replacing the CIT with some kind of consumption tax (the VAT is what is usually suggested) has a lot of support.
