DEMOCRACY, DEMOCRATS, AND TAXES
In response to The Salvation of 2008, TTPer "Bogie" was thoughtful enough to post on the User Forum a list of 50 reasons for The Fair Tax.
Together, they make a pretty convincing case for replacing all personal/corporate income taxes, FICA payroll taxes, gift/death taxes and the AMT with a national retail sales tax. I would add #51, the end of the depreciation schedule for a business' capital expenditures.
Yet there is another overarching reason for the Fair Tax replacing our present tax structure, which is that it is vastly more democratic, and provides a far firmer and more stable foundation for a democracy.
Which is why Democrats are against it because they don't want a real democracy.
Take a look at the Who Pays Income Taxes charts from the National Taxpayers Union. You'll see that over the last several years, the percentage of total income taxes paid by the top 1%, top 5%, top 10% of taxpayers has gone up, while that paid by the bottom 50% has gone down. 1% of taxpayers now pay almost 40% of all personal income taxes, while 50% pays 3%.
How dangerous this is for a democracy can be seen with this simple image: imagine balancing a pyramid on its point.