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1. 

   Comment by xTRAPJAWx on 1 December 2010:

   Like this video? Go to fairtax.org
2. 

   Comment by nezpercenathan on 1 December 2010:

   I agree with Schiff, philosophically, but here is what WILL actually happen if we go to national sales/consumption tax: when it is passed, we will be told that income taxes are to be “phased out”. But, they never will be, and we will end up paying both. Then, a cap will be put on the sales tax, and the rich will not be paying it on all of their consumption. I expect it will end up, after all the BS, that people will only pay on the first $100K consumed, and once again, the middle class will pay.
3. 

   Comment by justinholt2000 on 1 December 2010:

   If we tax the megarich they can no longer spend 200 million dollars on a whim like Carly Fiorina. How many permanent jobs did that create? ZERO!!
4. 

   Comment by RetSquid on 1 December 2010:

   Where is “Honk Kong”?
5. 

   Comment by madpaintbalerx on 1 December 2010:

   @johnywinslow I like how you say “people’s republic”, proving you have no clue what liberalism is.
6. 

   Comment by urgener on 1 December 2010:

   I support the FairTax. Prices won’t rise, because taxes are only paid by consumers, and the FairTax replaces tax, not add to tax. The net change will be zero, so prices will remain constant. The poor will be totally untaxed, by the prebate, and 350 billion $ will be eliminated in overhead expenses. OH! And criminals and illegals will finally be paying taxes. Your purchasing power ill rise, under the FairTax.
7. 

   Comment by johnsenkenn on 1 December 2010:

   Haven’t his father told him that the states didn’t ratified this incomes tax stuff ?
8. 

   Comment by billychen13 on 1 December 2010:

   come to australia, we have a huge income tax and a 10% consumption tax on just about everything. i wonder ehat the government do with it
9. 

   Comment by upinflamezzz on 1 December 2010:

   Wasn’t this Huckabee’s idea first?
10. 

    Comment by monkeychess on 1 December 2010:

    This is nonsense. You want to punish those who invest (spend) in new production capability and reward those who lend (save).

    Consequence? In the end only those who have absolutely no choice will take a loan, and when they do, it will be to spend on a short term day-to-day basis. Noone will invest in long term production capability or research.

    So no progess for the economy in terms of the amount or the quality of goods produced. Just an economy which will keep contracting until collapse.
11. 

    Comment by BRYAN351 on 1 December 2010:

    If we got RID of the:

    1) Federal Reserve racket
    2) Socialism (all of it!)
    3) Worthless Federal agencies
    4) Fascist plundering of the American people (“bailouts”)
    5) Unconstitutional wars

    ….then the government wouldn’t need to tax income OR consumption! Excise taxes would provide all the funds needed to run a legitimate, constitutionally limited government.
12. 

    Comment by pdynamics1 on 1 December 2010:

    1. Tax me on what I spend not on what I earn. With a federal sales tax, everyone is paying taxes including organized crime.

    2. Shrink government to lessen the demand on taxes. Start making cuts to foreign aid, arts funding, and especially the war
13. 

    Comment by johnywinslow on 1 December 2010:

    peter You live in a liberal state with liberal ideals, If you want to seriously help america and bring your ideas into law and get into gov. You have to leave the N east. go to texas or AZ were your ideas are accepted. Middle america is were you will get elected not the peoples socialist republic of conneticut. just food for thought. Thank you for your efforts and concern, just understand the majority of your ideas are middle america not yuppie america!
14. 

    Comment by sk8ingonfire on 1 December 2010:

    9:11 i agree … BUT the rich got rich already -the poor are getting richer with slight of hand ideas……………….what we need is more transparent paper pushers……..that and bush in jail -then we can soundly gain confidence- and get rid of cheep products
15. 

    Comment by LeeRyan2930 on 1 December 2010:

    our quality of life can be much better if we realize what we’re being taken advantage of by the gov’t.
16. 

    Comment by 407buddy on 1 December 2010:

    STOP paying your debt, (we) the people do have the power: just stop paying (and playing their game). It would be interesting to see who’s got who by the balls, it’s all just a rigged little poker game,…isn’t it?
17. 

    Comment by herzogsbuick on 1 December 2010:

    It’s a friggin pizzeria!
18. 

    Comment by getnick77 on 1 December 2010:

    re stand corrected, Hong Kong also does not provide for its national defense, have a space program, contribute to the IMF or the UN, does not supply foreign aid to anyone and has never been nor is now a sovereign nation.
19. 

    Comment by WGS669 on 1 December 2010:

    A sales tax in place of the current income tax will be another huge systemic disadvantage to the poor. The rich and the retired will lobby for and receive tax deductions and exemptions for the kinds of consumption the rich and the retired prefer. This has been coming since the baby boom, and will be implemented as they begin to retire. It will complement higher inflation and it will be a gold mine for the federal government. So.. don’t be poor.
20. 

    Comment by trinomialtree on 1 December 2010:

    @crispymidget
    everyone makes money and fat lazy americans get to slim down for free.
    now in case that is not possible, you can always corral these unproductive americans, stick them in california and run a giant particle beam across the faultline, and say they are seceding from the US.
    the more conventional way is to inflate away the debt like the US is doing now, then press the reset button and then with no legacy debt issues, the government can then relax taxes and promote re-investment.
21. 

    Comment by trinomialtree on 1 December 2010:

    @crispymidget
    the ideal solution is to take unproductive americans (around 150m people) and re-introduce manufacturing slavery. in conjunction with this, lower taxes for corporates and banks to <10% and steer them to re-establish manufacturing bases in america to soak up the slave labor. then you will have a manufacturing environment that is competitive with china, but with a technology edge.
22. 

    Comment by nahiag on 1 December 2010:

    Hey Schiff, Sweden here
    I like your opinion and it reminds me of a discussion I had with a fellow accountant a few years back where he just as you proposed a sole consumption tax. I pointed out that people will be able to buy things outside of the country and not pay tax. Here in Sweden we’ve got very high taxes but that’s not the main issue, as an example I take the booze tax, people drive from Sweden to Germany (~800km) just to buy booze there to avoid the tax. How would you avoid it?
23. 

    Comment by crispymidget on 1 December 2010:

    @trinomialtree So I’ve come into this discussion at the end apparently. What is your stance again? Please explain to me what you suggest is your ideal government taxation method. I’d just like to know where you’re coming from.
24. 

    Comment by trinomialtree on 1 December 2010:

    @MrJLusty
    err, sorry to pop your bubble lusty but i don’t live in the US. neither do i need to worry about pensions. i gather that you are not very well versed in finance or else you would be able to infer from my handle that i work for an investment bank in quantitative trading.
    its just that personally i’m a bit of a sadist and i like seeing poor people being squeezed between the twin towers we have developed – public sector monetary inflation coupled with private sector deflationary spiral.
25. 

    Comment by jumpers3 on 1 December 2010:

    I always favored the sales tax instead of the income tax for the reasons Peter stated

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