Nope.<quoted text>LMAO, you sure have something against people that make a lot of money, don't you? How many people make $300M or even $20M a year? If you take ALL of their income (100% income tax), it doesn't put much of a dent in the deficit this country has.
You are correct on one thing though, their income is not taxed under the FairTax, only their spending.
Let me give another example of why it's a better idea (there are MANY more, read the book): someone is fairly wealthy, retired and most or all of their investments are in tax free muni bonds or similar, so they have NO taxable income and NO federal income tax. Yet, they still spend a good bit of money. Under the current system, they pay no federal income tax. Under the FairTax, they'd pay a good bit because they continue to spend.
A friend of mine on Topix knows someone in that situation...
I love rich people.
I love corporations.
Both provide me a very reasonable income providing them consultations and advice related to very specific issues.
Both are as diverse as all others less affluent than they.
What is interesting is, rather than demonstrating an error in the analysis leading to the conclusion you dislike, you feel the the need to create a "Strawman" to attack.
It is instructive when someone suggests that all Americans pay the same tax rate, on all sources of income,
an obviously fair, simple, and reasonable method of raising revenue,
the response is to attack the proponent of "hatred" and "envy".
A more blatant concession that no legitimate argument exists is difficult to imagine.
Perhaps some facts and analysis would lend more credibility than specious attacks.
Ah,... but that's the point. No such facts or analysis is available.
Hey, gotta run,.. meeting today for lunch at a beach front hotel with some of those rich people I hate so much. They'll be interested to learn of your discovery of my heretofore hidden animosity.