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This country is broke. How long before the total failure of the economy?
It is more obvious every day that a new approach is needed. The economy needs a stimulus that works, instead of throwing tax dollars at wasteful efforts.
Two solutions have been proposed: the fair tax and the flat tax.
The fair tax would give every employee and business in this country their full paycheck and completely do away with the present income tax system by replacing it with a consumption tax. Think what a stimulus this would be.
The flat tax would not do away with the income tax. Federal taxes would continue to be deducted from every paycheck.
Now I ask, which one would be an effective stimulus for the economy?
Roy T. Newsom