That pictures comes from the web site of Americans for Fair Taxation, the group behind Mike Huckabee's beloved FairTax. The "pimps-will-pay" argument commands a surprisingly prominent place within their mythology, and, through that, has become a featured riff in Mike Huckabee's stump speech. The idea that pimps might pay a bit more of their income in taxes under a FairTax scheme is, I'll admit, true, if rather irrelevant. Many of their other arguments, however, are relevant, but not true, as I explain in today's column, which starts:"When the FairTax becomes law," Mike Huckabee promises, "it will be like waving a magic wand releasing us from pain and unfairness." That's quite a tax policy. I've always found sales taxes to be more like a magic wand imbuing me with lots of pennies, even though the sweater clearly said $25.95.And let's be clear. That is what the "FairTax" is. A sales tax. A big one. The magical tax fairy is going to float down from her wondrous revenue castle and, with a click of her enchanted rates calculator, eliminate all federal income and payroll taxes. But she will leave in its place a hefty sales tax affecting everything you purchase (save educational spending). For every dollar you spend, you will pay an extra 30-or-so cents in "FairTaxes." It's like the worst magic trick ever.Read on as I explain how it's done...
