Yesterday Mike Huckabee was in Houston, Texas promoting the Fair Tax Plan. "The Fair Tax, which was given birth here in Houston, Texas, is the most reasonable and most logical, and it's the most doable way to completely revolutionize our current tax structure", he said.
The Fair Tax Plan began in Houston, Texas. To read more about Americans for Fair Tax click here.
Mike Huckabee is working his way into the top-tier position in the next few months.
For the full Houston Chronicle Article click here.
Press release from the Huckabee Campaign. In an online poll Mike Huckabee won out by 42% of the vote. People voted him as the candidate with the most effective and comprehensive plan for significant tax reform.
1 comment:
I dont see how fairtax can work as advertised. I wish it could.
But unless there is some alternate universe, where math has no meaning, then Fairtax has profound fatal flaws.
For one thing — Fairtax pretends to tax the federal government, to pay the federal government, about 300 billion dollars.
Boortz writes “the federal government itself becomes a major taxpayer” Page 148.
Major taxpayer? To itself?
Can the federal government can really pay the federal government 300 billion dollars.
Its like me saying I will tax myself 10,000 dollars a day. Oh, I can write a check for i10K, I can even deposit my own check in my own account. But at the end of the month, I dont have 300,000.
Incredibly, Fairtax thinks they will have 300,000. Well — they pretend they will get 300 billion, just from taxing themselves.
For example, when the Fairtax makes the US Navy pay 4 billion in “sales tax” on a 12 billion dollar aircraft carrier — the Navy can write the check, The Treasury can even deposit the check.
But the Treasury isnt a dime ahead. The treasury had to issue the money to cover the check it cashed.
If the government could just magically pay its own 300 billion in taxes - why not 400 billion? Why not 800 billion? Why not a trillion? Just have the Navy write a few checks for 500 billion.
Heck we just found the perpetual motion and tax machine.
As a result, the Fairtax budget would be 300 billion dollars shy -- and the rate would have to go up on the fairtax to cover that. So the rate would have to at least be 35% for that one fallacy.
Another major fallacy — Fairtax pretends it will be able to tax health care. Fairtax looks to tax the 2 trillion dollar health care industry — to the tune of getting 460 Billion.
If Fair tax CAN NOT tax health care for any reason — they lose 460 Billion more in revenue, and the tax rate has to go up to 50-55% percent.
Lets see if the Fairtax can really tax health care and get 460 billion from these people.
Will Fairtax get away with taxing health care?
Depends. Depends what a cancer patients does when just ONE patient gets a tax bill of 40,000 dollars on their surgery, chemo, and hospital bill. Will they go ahead an pay it?
Or scream like bloody murder?
Keep in mind, there are 15 million people dealing with cancer at any one time.
Even if they cancer victims have insurance — insurance doesnt cover this extra 35% tax. So if you survive cancer and your insurance pays the doctor and hosptial 100K, you still owe the 35,000 for the tax.
The Fairtax would be the new -- and absurdly high -- co-pay.
What do you think nursing home patient will say, or the famlies, they see a 25,000 tax, per year, on their nursing home care?
Will they just pay it? Or scream like bloody murder?
What would the parents of an 8 year old leukemia victim say, when they see a “sales tax” bill of 70,000 dollars, on their effort to keep their child alive. Suppose further that the parents only make 35,000 a year.
Will they just pay it -- using magic -- or will they phone their congressmen? Their Senator?
What will millions of people say when they see their bills — second opinions are taxed — lab tests — taxed — ER visits — taxed. Dental care -taxed. Doctor visits — taxed. Knee replacement — taxed. Child birth — taxed.
The outcry from these folks will be like nothing US history has ever seen before.
Congress would quickly exempt health care expenses from a high sales tax.
If any Congressman dared to suggest the parents of a cancer victim should pay a sales tax — they wont be a congressmen very long.
So the rate would have to be adjusted up — to 55-65%
My point is — you wont be ABLE to tax health care. And you CAN'T tax the federal government.
The Fairtax budget would be 800 billion dollars shy --
And we havent even discussed other huge markets which will demand exemptions. Renters -- Car sales, new home sales -- new moblie homes.
Of the 40 million renters in the USA - I bet not 12 individual renters know their taxes would skyrocket the moment this bill is passed. And wow, will they have a few words.
ALready, you have nearly a trillion dollar shortfall!!
Fair tax can’t work. And Im really sorry that it can't.
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