| Firstly, you don't specify what the Fair Tax is > The Fair Tax would repeal the current tax code and replace it with a single national consumption tax that is pro-growth and allows Americans to keep every cent of their hard-earned money. Source: https://buddycarter.house.gov/news/documentsingle.aspx?Docum... Secondly, what do you think "political views" are? Politics is how we mediate social interactions. Our political views are implicitly linked with how we think society should be governed and how that government should be funded. For many people, their view on taxation is their primary political view. Leaving aside the loaded, imprecisely specified question - I don't support regressive taxes. Regressive taxes mean more of the tax burden lies on the people who can afford it least. An income tax that scales with income leaves everyone with sufficient money to spend. People with higher incomes contribute more in absolute terms, but the same in % terms. Personally I don't mind paying 30% in taxes regardless of what I earn. Whereas a consumption tax is bananas. It benefits me, who saves a large chunk of my income. I would keep even more. But a person living pay check to pay check, that person spends almost all their money despite being taxed very little. For that person, their income wouldn't rise much, but the prices of everything they want to buy would rise. And second order effects are pretty bad. Consumption taxes reduce consumption. That's bad for growth, no matter how you look at it. The people who want this clearly learned economics from a work of fiction. |
P.S. it's spelled "paycheck" not "pay check". ;)