Flat, Fair, VAT, or Gone? What Shloud be done with the Federal Income Tax- CPAC 2011 Pt.1
Congressman Steve King supports the FairTax, a national consumption tax placed on all new goods and services sold in the US that would completely replace the current patchwork of federal income, excise, and payroll taxes that are currently used to collect revenue for the federal treasury. This taxing system, along with others, was debated this year at CPAC.
King does not support a tax on city and state governments.
But Fairtax is a MASSIVE trillion dollar tax on city and state governments. That’s right, Fairtax fine print has a massive tax on city and state government.
California state government, for example, would owe 14-16 billion a year, Texas state government would owe 9 billion. All cities would owe likewise.
SO when Fairtax can no longer hide the fine print, it’s dooomed. It wont even get it’s own supporters to vote for it