Quote:
Originally Posted by Haggar
This "fair tax" isn't so fair. The wealthy who make a lot of income put most of their income into investments and the bank. Therefore they would only pay tax on what they "spent" and pay no tax on their investments. This is a scheme to help the rich!
As to the gas tax - this is going to be a problem in the future. With the push towards electric vehicles, hybrids and just more fuel efficient vehicles gas consumption is going to go way down and taxes along with it. Toll roads would partially work to alleviate the problem - so roads like I-95 would need to be converted to a toll road.
All roads supported with the gas taxes would have to be converted - not very practical!
And if payroll taxes go away where are the funds going to come from for medicare and social security?
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Your points would be relevant if not for the fact that the federal government and many states operate in the red every year. And would continue to do so if the scenarios you mention come to fruition. Nothing would change except debt will continue to grow and grow and grow.