What's the opinion on the fair tax system of eliminating the IRS then?
Whatever tax system we have, we will need a department to collect the money and enforce the laws.
If you define a fair system as one that everyone considers fair, you can forget it.
I prefer a flat tax on income with allowances for each member of the family and the flat tax on the balance. No loopholes like charities, mortgage, local taxes etc. The problem with this is that it ceases to be a vehicle for public policy, i.e. encouraging home ownership, charities, etc. Along with this, all corporate taxes would be dropped to encourage companies to have their businesses here. This would appear to raise the rate for the tax payers, but with more companies, there would be more payers. It will never fly.
I just realised that I could be killed by this, I am a retired, empty nest, widower, living in our family home. My income is reduced but the cost of running the home are not much reduced, heating, cooling and taxes are about the same, food for one costs more than half of the cost for two. Where with our whole family there were 5 allowances to pay for the house, there is now only 1. I don't like it myself now.
I don't like the sales tax/VAT route, because it couldn't be extended to stocks and shares, and so the rich would get richer and the poor would get poorer.