They had me until

[Gonz]

I'd prefer a flat tax but this had me intrigued

An effort to do away with federal income tax and replace it with a national consumption tax is gaining steam, as activists strive to get at least 100 members of the House of Representatives on board by Independence Day.
Wright noted the House bill, H.R. 25, added its latest co-sponsor this week – Republican Rep. Barbara Cubin of Wyoming – bringing the total to 44.

"We're working with our grass-roots people across the country" to get to the goal, Wright said. H.R. 25, the Fair Tax Act, is sponsored by Rep. John Linder, R-Ga., who has sponsored similar legislation for the last several years. The latest version of the bill was introduced Jan. 7, 2003.

"The current federal income tax system is broken. Patching up the existing code is pointless. It's time for a fresh approach, a fair approach. It's time for the FairTax," says the group's website.

"From its humble beginnings, the income tax has grown like a cancer by taxing our hard work and discouraging savings and investment."

Hmmm, that may be worth investigating further....here's wher it collapses & breaks up into a gajillion pieces...

H.R. 25 would eliminate the federal income tax and replace it with a 23 percent consumption tax paid by the end user. That means business-to-business purchases for the production of goods and services would not be taxed. The organization estimates consumer prices will drop by an estimated 20-30 percent as a result of the change.

23%?!?!?! Are they nuts? The wealthy would go out of the country & the poor would just be priced out of the market, on tax alone. And, a 20-30% drop on retail prices...

WND

 

[chcr]

It's the new math.