I am sorry but what don't you get, but hey if it happens I will invest big in the auto and appliance repair business and make a killing. No one will be buying anymore.
Arguments Against Flat or ConsumptionTax?
- Thread starter ktmexc20
- Start date
E-Bay will actually become a trade and barter site.......I am looking to trade my 1988 Opel for a Row Boat etc....This transaction will be impossible to tax.
Oh please, since when have the consumer habits of America been based on "need". If it were "need" based the sales tax would never collect enough. In fact your "need" based argument actually supports mine.
The real issue here is what amount of money does it require for an individual to buy an item...
Today...simple terms....
A well to do person....$1.27
A wealthy person....$1.38
A lower middle class person...$1.18
A poor individual $1.05
Of course financed items cost even more...
.........................................................................
15% consumption...everybody pays $1.15
15% capital LT cap gains...15% of the cap gain portion...
The poor never pay LT cap gains because they never have anything and this would make up for the progression...
The fact is that the US economy would take off like a rocket....
.....................................................................................
Much fairer and simpler than todays system....
Today...simple terms....
A well to do person....$1.27
A wealthy person....$1.38
A lower middle class person...$1.18
A poor individual $1.05
Of course financed items cost even more...
.........................................................................
15% consumption...everybody pays $1.15
15% capital LT cap gains...15% of the cap gain portion...
The poor never pay LT cap gains because they never have anything and this would make up for the progression...
The fact is that the US economy would take off like a rocket....
.....................................................................................
Much fairer and simpler than todays system....
Wait a minute, the last figure I saw for a national sales tax was something like 26%, that was from the WSJ three years ago. Your 15+15 will never raise enough money without massive spending cuts.
