Credit: themaroontiger.com

Last week the Dow Jones Industrial Average declined by 280 points – its worst week since June 1. The drop wiped out all the gains made since the Federal Reserve announced its “Quantitative Easing 3” program of open-ended money creation in mid-September.

What is the Fair Tax... other than the Libertarian platform for tax reform?  According to FairTax.org, "The Fair Tax Plan is a comprehensive proposal that replaces all federal income and payroll based taxes with an integrated approach including a progressive national retail sales tax, a prebate to ensure no American pays federal taxes on spending up to the poverty level, dollar-for-dollar federal revenue replacement, and, through companion legislation, repeal of the 16th Amendment.