Hi Ryan,
Here are my initial thoughts on the FairTax: The FairTax isn’t a good idea. First, it’s deceptive about the cost to America, and second, it would create a brand new bureaucracy without any pragmatic benefit.
The first point you can do the research to find out. According to FactCheck.org, the FairTax proposes a 23% sales tax, but this wouldn’t be enough to replace all the revenue it’s supposed to replace. Instead, it would have to be around a 34% tax. FactCheck.org is non-partisan and usually reliable; I trust them. You can look into more hard data, but I will defer to their judgment for now.
In my opinion, the proponents of the FairTax are basically lying to the American people about what it would cost. Either you build massive deficits or you cut tons of programs. Undoubtedly, a libertarian would love the latter. However, it remains politically impossible to both implement the FairTax and cut tons of programs.
The second point is that the FairTax is an unnecessary boondoggle. I still adhere to some conservative principles, and this seems to be where they come in handy. FairTax proponents, like Huckabee, will say that they want to abolish the IRS. In truth, the FairTax still requires some type of bureaucracy to handle all it does. What are you going to do? Replace the IRS and institute a new organization? Why would we replace one form of taxation with another if we will still have a bureaucratic mess? Because it’ll make some people feel philosophically more at peace? That’s not a sufficient reason to institute such a radical change. Conservatives rightly resist such change for change’s sake.
If you disagree about the bureaucracy it would create, keep in mind that a sales tax is highly regressive. The FairTax proposes various measures to help out the poor. Someone needs to keep track of who gets what. You’ll find no one promoting a “fair tax” who does not also promote some ways of ameliorating its regressive nature.
In addition, a big sales tax will open up massive smuggling “business opportunities” with our neighboring countries. Either we let all that go, or we crack down on it. If we decide to do any enforcement, guess what? More government.
The FairTax provides no benefit other than some philosophical good feelings, but to implement it would require heavy costs — more than I’ve enumerated here, even. You can’t contemplate the FairTax in abstract; you have to look at what it would cost to actually put it in place. Radical changes require enormous benefits, and that just doesn’t happen with the FairTax. The trade-off isn’t worth it.
As always,
Shawn