Why not create a special Supertax. Any moviestar,rapper,football player,guys that throw balls in a hoop that earn more than 4 million a year get a 90% tax bracket over 4million CEOS a special 70% Golden parachute tax on parachutes more than 20 million. And CEOs earning more than 50 million a year 70% bracket above.
Fairtax would never work. 70% of our GDP is consumers buying and spending times at malls for "Shopertainment" 23% salestax on goods and services and you will see a major economic collapse when "Shopertainment" goes out of style and Americans begin saving not spending.
Fair tax would only benefit those who actually pay taxes, not those who get money from the gov't w/o paying anything into it (the zombies).
Are successful people less entitled to keep their money than you are? Rates like 70% and 90% are not taxation. That is theft.
Fairtax is a great concept, but it doesn't seem to be able to get any traction. The organziation has been around since the late 1990's. I met one of the founders in 1999. They were well financed and very well organized. The guy I met thought they would have legislation through congress within five years. Nothing ever happened.
Yeah and how about a noob trader tax. If you turn a 100k account into 1 million in 1 year, you get taxed 80%. Hows that sound noob_trad3r?