How would the fair tax hurt the poor and middle class?

Question

How would it hurt industries?Help please?

Answer 1

A fair tax would be a flat income tax say 15% with no exemptions . The fair tax is a sales tax which the lower income levels pay more of in percentage of income then the upper income levels .

Answer 2

I am playing big on oil trading. I’m from Morgan Stanly, or Goldman & Sachs, or any big firms on the Wall Street .

I bought millions and millions of barrels of oil when they cost $60--$100 a barrel. I expect to make a kill when I sell. But right now it’s only $135 a barrel. So here is my difficulty No.1 :

Congress is now investigating on oil speculation, I am afraid of being caught.  But if I sell them right now, I would end up with little or no profit since the trading fees and hedge fund managing cost are not cheap.

I already request my agents send  the spin out to the media, like: “Oil future looks high, expecting to be in the range of $200 a barrel soon. ”   But it does not work price up as fast as I expected.

So my question is this:  How do I corner the market price up in time so not to get caught by Congress.?

For your info:   Prof. Michael Greenberger’s testimony before Senate makes me very nervous.  He said: ‘If speculation were reined in and trading rules tightened, the cost of crude oil could drop 25 percent.” http://www.mcclatchydc.com/staff/les_blu...

My lobby firm can work Republican party to stall passing the laws, but  I am not sure for how long. I am very fearful and worried. What are the options for me ? Please advise.