It was impossible to tax consumption when the first income tax was instituted by Democratic President Woodrow Wilson. No way to track it. Now, you can. Economist John Cochrane who writes at The Grumpy Economist says consumption taxes are significantly more efficient and that the rich will pay more since they consume more. The pre-bate on the consumption tax protects poor people
Thank you John. This is an excellent description of the FAIRtax. I hope President actually get to read it.
I Am proud to have voted for you when we lived in Lilburn GA.
It was impossible to tax consumption when the first income tax was instituted by Democratic President Woodrow Wilson. No way to track it. Now, you can. Economist John Cochrane who writes at The Grumpy Economist says consumption taxes are significantly more efficient and that the rich will pay more since they consume more. The pre-bate on the consumption tax protects poor people
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