A fair tax for all

A fair tax for all.

Yes folks it's election time again and some candidates are advocating for a "fair tax for all".  Sometimes they call it "Your fair share."

So let me ask them, and you are most welcome to comment here, just what is "a fair share?.

Any self employed person pays 14% in social security tax or FICA.  If you are doing good and have a taxable income of $100,000 you are in the 25% federal tax bracket and if you are lucky enough to live the beautiful state of California or New York you are also paying an extra 10% or 11% in State and City taxes.  Lets see that's 50%, not "a fair share"?

Here is my take.  The only "fair" tax is one that  EVERYBODY pays equally.  That's right, everyone is taxed at the same rate.  How can we do this you ask?  Simple.  ZERO tax on income.  A VAT or national sales tax on everything except food and clothing.  If you don't have any money to buy anything, you don't pay any taxes.  If you are saving on income taxes you have the money to pay whatever the VAT or National sales tax rate is.

Also, some people have a very nice income but still pay no income tax.  Off the books folks don't pay any taxes either.  A national VAT or sales tax would correct that.

I believe a high income tax encourages people to retire early.  I'm one of them.  Who wants to be in the 50/50 club?

What do you think?

Comments welcome.

BTW folks, I'm now retired and would be paying more taxes under my plan, my income is down but my spending remains the same.