Posted on 08/30/2015 6:54:01 AM PDT by conservativejoy
Also inherited property if you want to expand on it, but I think hedge funds are dealing in purchased property, not gifted or inherited.
Excellent point!
Trump for sure is move the debate, get issues out that never would dare be talked about by any GOP candidate.
It’s remarkable the attention that is paid when there is skin in the game.
Amen, Liz!
Actually, the plan I saw caps the top percentage of tax paid at 15%. That seems fair. I’ve been paying more than that for years and I’m not rich.
That is certainly true if the consumption tax is added to the income tax. But, if the consumption tax is a substitute for income tax, then your analysis is flawed.
That is not to say I believe your analysis to be completely untrue in case of substitution, but the effect of the consumption tax will definitely be ameliorated by cessation of the income tax. My reading of your analysis is that it assumes no effects from repeal of income taxes.
What the actual effects would be should be vigorously analyzed (first) and debated (second).
It's amazing to me how many people who are in favor of llimited government support a tax system used in Europe. This is not Europe and we don't want it to be.
No most of the built in costs are government regulation and financial burdens levied by government on employment. Built in costs of fuel taxes, social security, unemployment insurance, medical coverage, on and on. This stuff will not go away with a consumption tax.
I believe that any debate on tax systems needs to be informed, based on well-defined analyses, and not be pro forma for or against based on where it has been used (understanding that an substantially identical formula in Europe would be a major part of the analysis of effects, of course).
Sorry I misunderstood the basis for your assertions, although I have to admit I am not certain I agree with your conclusions. Nor do I necessarily disagree, BTW.
Have a great day, FRiend.
And grows deeper every day!!!
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