Greenspan backs tax revamp

[truthfinder9]

This is getting drowned out by the current melee over social security:

Greenspan backs tax revamp

Greenspan: Consumption Tax Could Help Economy

Greenspan Touts Idea of a Consumption Tax

******

The current Federal income tax system is broken. Patching up the existing code is pointless. It's time for a fresh approach, a fair approach. It's time for the FairTax.

Simply put, the FairTax replaces the way we're currently taxed - based on our annual income - with a tax on goods and services. The FairTax is a voluntary "consumption" tax: the more you buy, the more you pay in taxes, the less you buy, the less you pay in taxes. It's simple.

Everyone pays their fair share of taxes, and with the FairTax rebate, spending up to the poverty level is tax free. The Federal government is fully funded, including Social Security and Medicare, and you don't need an expert to determine your Federal taxes. It's simple.

Find out more @ http://www.fairtax.org/

[Protagoras]

Greespan wants a new tax and keep the old tax.

Your scheme is backfiring.

[Protagoras]

"Consumption taxes can take the form of national retail sales taxes or a value-added tax, imposed on the increased value of a good or service at each stage of manufacture and distribution and ultimately passed on to the consumer. " Greenspan

[Protagoras]

"However, getting from the current tax system to a consumption tax raises a challenging set of transition issues," he added.

[truthfinder9]

Regardless what Greenspan said, a new national sales tax would replace the income tax. Try again.

[Protagoras]

Based on the reform panel's initial meetings, serious consideration is being given to a consumption tax. One popular idea is to craft a new code that includes both an income and consumption tax. Such combinations are common in other parts of the world, including western Europe.

[Protagoras]

Details of how a consumption tax would work, either as a stand-alone system or in combination with an income tax, aren't entirely clear. Tax experts say, however, that a national sales tax alone would not work.

[Hank Rearden]

Lots of talk and blather.

My money is on "no changes". Politicians like things the way they are - they get to reward those who buy them off.

[ptavares]

Why not just a 10% flat tax EVERYONE pays and you get nothing back,that would be fair for everyone except the rich.

[truthfinder9]

Not all tax "experts." Plently like the idea. See http://www.fairtax.org/ which gives some detailed answers to common questions about the new replacement tax.

[Protagoras]

Regardless what Greenspan said, a new national sales tax would replace the income tax. Try again.

YOU brought up Greenspan, now you try to distance yourself from him, and you tell ME to try again???????

What is YOUR guarantee that we won't get both? You can't. It's BS, and IF the Republicans pass a new tax, they are finished.

[truthfinder9]

Or how about the http://www.fairtax.org/ that is fair to everyone?

[truthfinder9]

Are you dense? They don't want a new tax, they want to replace the current backward, corrupt tax system.

[Conservative Goddess]

Why do you believe that a sales tax will not work?


http://www.freerepublic.com/focus/f-news/1358525/posts

[Conservative Goddess]

Ping!

[expatpat]

How can you be so sure?

[expatpat]

You are the dense one -- Greenspan proposed a combination of both.

[expatpat]

Off we go again!

[Protagoras]

The statement comes from YOUR link.

I didn't put the quote marks on it, my bad.

[Protagoras]

Are you dense?

You post this BS and I'm dense? You need to pop your head out of your ass.

You talk about Greenspan, then run away from him, then claim it's all a big mistake, then call me names.

You are an imbecile.