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Firstly, you don't specify what the Fair Tax is > The Fair Tax would repeal the current tax code and replace it with a single national consumption tax that is
by nindalf 4y ago
Firstly, you don't specify what the Fair Tax is
> The Fair Tax would repeal the current tax code and replace it with a single national consumption tax that is pro-growth and allows Americans to keep every cent of their hard-earned money.
Source: https://buddycarter.house.gov/news/documentsingle.aspx?DocumentID=10824 https://buddycarter.house.gov/news/documentsingle.aspx?Docum...
Secondly, what do you think "political views" are? Politics is how we mediate social interactions. Our political views are implicitly linked with how we think society should be governed and how that government should be funded. For many people, their view on taxation is their primary political view.
Leaving aside the loaded, imprecisely specified question - I don't support regressive taxes. Regressive taxes mean more of the tax burden lies on the people who can afford it least. An income tax that scales with income leaves everyone with sufficient money to spend. People with higher incomes contribute more in absolute terms, but the same in % terms. Personally I don't mind paying 30% in taxes regardless of what I earn.
Whereas a consumption tax is bananas. It benefits me, who saves a large chunk of my income. I would keep even more. But a person living pay check to pay check, that person spends almost all their money despite being taxed very little. For that person, their income wouldn't rise much, but the prices of everything they want to buy would rise.
And second order effects are pretty bad. Consumption taxes reduce consumption. That's bad for growth, no matter how you look at it.
The people who want this clearly learned economics from a work of fiction.
- codemonkeysh 4y agoSomething tells me that you love to critique things to hear yourself speak before actually answering a question. P.S. it's spelled "paycheck" not "pay check". ;)
- nindalf 4y agoWhen asked a loaded question, I point out its loaded before answering it. I could be wrong though. Perhaps you were merely ignorant of what “politics” means. In that case, I’m sorry for calling your question loaded. I hope you’ve found this educational.
- codemonkeysh 4y agoPerhaps you're too ignorant to step out of emotions with politics and focus on the question. Sorry for thinking you might have common sense :)
- nindalf 4y agoAh, you missed the part where I answered your question in detail. :) It couldn’t hurt to develop some reading comprehension. :)
- nindalf 4y agoThe first line of Wikipedia (https://en.wikipedia.org/wiki/Paycheck https://en.wikipedia.org/wiki/Paycheck) > A paycheck, also spelled paycheque, pay check or pay cheque "Oh no, the top comment on my question makes me look stupid. Quick, let me make a pedantic correction so I can look smart. Let me also ignore the substance of the comment so I don't have to re-examine my priors."