Fair Tax, Flat Tax? -- Just fix the Tax

It is time to do a MAJOR overhaul on our federal tax system. It is a mess and becomes less fair to ALL each and every year. It is out of control and “increment-alism” will not work. Yes, it is time for a bold change and it does have some degree of risk. But, at one point (early in the 20th century) we had NO income tax and a bold risk was taken to put one in place. There were forecasts from both sides of the aisle of impending disaster and that the economy would absolutely collapse. It didn’t. It did create a new entry however under ”largest piece of the economy” – namely – the  government. Yikes, is that what we were going for? My point is that it took leadership to try this. It will take bold leadership to try something new. Will there be hiccups and mistakes?  – Yes. Get over it – that is the process of everything in life. Have you been living under a rock?
 
We should tax consumption. Period. Not income, not savings, not investment, but consumption. By doing that, it will foster MORE income creation, more savings, more investment, while in turn - fueling more consumption while growing the economy even more than we have seen in the past 50 years. By the way, for those that bitch and moan about our economy – you should know that the last 50 years have created more wealth for more people than any other period in the history of mankind. It is amazing, quite frankly, but we can do even better.
 
Tax the consumption. Wouldn’t matter where the money came from, tax it when it is spent. In Europe, VAT is an example. You can research both parties’ stance.   The name doesn’t matter. And believe me, the names are confusing. The basic thing that MUST happen is to shift our federal taxes from income to consumption. Growth of the economy (and the tax base by the way) will follow.
 
Don’t agree? Bring it on. What is your idea? You can’t possibly think we have it right as it is.