In the 2008 election John McCain took the $84.1 million as current guidelines mandate…let’s call that the IRS. Barack Obama raised $741.6 million by allowing contributions to pay the way…let’s call that The Fair Tax. Obama’s fundraising (90% of the total money) is the best argument yet for the Fair Tax. Every dollar spent raising 23 cents of revenue beats the heck out of taking 35 cents out of every dollar earned. Uncle Sam only sees that 35 cents one time. If the dollar is spent 8-10 times around the free enterprise economy, it raises enough to pay off the deficit in two years and we’re “in the black” from then on.
Factories go back to hiring people to build washers and dryers, new carpet is put into new homes, more new cars are purchased to go in the driveway of the new homes being bought. Money changing hands in a free market economy makes everybody win except Congress and the lobbyists. That’s why the Fair Tax hasn’t been passed already. Any politician who doesn’t get on board with the Fair Tax ought to be voted out, no matter their seniority. Maybe seniority is the primary problem anyway.
It’s going to take another American Revolution, in Washington this time, to ever get them off their duff. Neal Boortz and John Linder got it right on the Fair Tax, Harvard and M.I.T. have proven the math, Let’s Roll!