Did you know Gravel is in favor of the FairTax?
After looking at it again I think it may be advantageous as a consumption principle but the way it is set up is insane. To say that it has no loopholes is such a misnomer. Corporations, incorporations and co-ops would soar and anyone who thinks that Washington wouldn't add in exemptions for industry (the people who don't need it) are crazy.
People would take summer houses in Canada, Mexico or abroad to avoid buying sh1t here. The Mafia would return importing huge quantities of not only luxury items and drugs, but durable goods and cars.
On top of that, the top rate is 28%? LOL! What a joke. Between all the money that the top bracket will save on capital gains taxes, de-regulation of the private sector in general (taxes serve regulatory purposes too!) and their ease/mobility to avoid being taxed on their jaunts to Paris for shopping sprees, it is a big blowjob to the Paris Hilton's of the world while kicking small business retail in the teeth.
Awful idea. Gravel has been bamboozled (not surprising since he thinks it is 1972). His '72 attitude is needed on the war, but his lack of wonkishness is disturbing.
