We needed another show on near death experience like we need another Foreigner album, but the first hour with Bill Spillane on the Fair Tax was worth it. Here it is in a nutshell:
1. The income tax is repealed.
2. A 23% sales tax is imposed on all new purchases.
3. Presently, the stuff we buy has about 23% of cost due to taxes that have been passed along the way in making the stuff, so the price goes down 23%, then the sales tax comes in. Huh? Did the price of anything change? Not by much.
4. You keep every dime you make. No deductions.
5. Everyone gets a check every month to cover the tax on basic stuff (like bread, milk, cigarettes ) calculated on the poverty level, or something. Yeah, everyone. Even Bill Gates. It's called the "fair" tax.
6. Huh? You want more? You keep all your money, the price of goods has remained the same, you're getting a check from the Government, businesses are knocking you down to get back into this country to do business, drug lords and Treasury Secretaries are now paying their share of taxes, money is rolling in, old people's social security checks ain't bouncing, what more can anyone want?
Sounds good to me.