Herman Cain is not a serious candidate — and the main reason is his bogus and ill-informed support of the Farce Tax — known to some as the Fairtax.

Since Fairtax fine print has a 300 billion dollar tax that city and states would have to IN ADVANCE — yes in advance — Fairtax is goofy. New York City, for example, would owe 1.1 billion dollars IN ADVANCE.

Fairtax is not a retail sales tax — any more than my car is an airconditioner. Yes, there is a "retail" sales tax as PART — a small part — of the Fairtax. A larger part of Fairtax is a massive tax that city, county, and state governments would have to pay — on WAGES, on benefits, and on pensions.

That's right — Fairtax HR 25 defines the government "as a taxable person" and a "taxable employer, that has to pay taxes on all wages, benefits, and pensions.

This is not just in their footnotes and fine print — this is how their math "adds up".

So Cain can only spout this nonsense as long as people don't know the footnotes and fine print in Fairtax. It's going to laughable for Cain to try to defend massive hidden taxes on every city, county, and states.

To give you some idea of how massive this tax is, consider this. New York City would have to pay 1.1 billon – in ADVANCE. The state of Texas would have to pay 4 billion -5 billion, IN ADVANCE.

That is not their total tax obligation– it's less than HALF their tax obligation. But these numbers are what these city and states would have to pay IN ADVANCE. See Footnoe 19, in the Fairtax document "Comparing the Fairtax Tax Base" page 10, footnote 19 "The Fairtax adopts a pre-payment approach to taxing government [wages].

Most people think Fairtax is a sales tax like we are all used to — nothing could be further from the truth. They have drastically goofy aspects, that are hidden in the footnote, but part of their math.

Good luck to Herman trying to defend this massive hidden tax, which has to be paid IN ADVANCE.

Remember, Fairtax said it was a "cruel hoax" to tax corporations, because corporations just pass the cost along to it's customers. Well, this tax on government Fairtax has hidden is drastically larger than any corporate tax ever. Where do they suppose governments will get all this money?

Only people pay taxes, and Fairtax has been a giant farce from the get go.

Does Herman know this crazy stuff in the fine print? Probably not. He probably never read the fine print or footnnotes, and never read the articles and books which repudiated Fairtax.

Fairtax's own researcher — Dale Jorgeson — has totally refuted their plan. Fairtax claimed Jorgeson's research was the PROOF that supported Fairtax. But Jorgenson came out and dismissed them as totally incorrect.

Reply