Hey, thanks for the alert to others. Just heard JL and he was great! Kudlow was good to have him on, too, but the segment was not nearly long enough to really discuss the subject in depth. But JL hit every point he had a chance to hit. Embedded taxes, reduced costs, cheaper to collect, better for retailers because they get their compliance costs covered, and the ONLY way to finance SS and Medicare without breaking everyone! Wee need to get a transcript.
Embedded taxes, reduced costs, cheaper to collect, better for retailers because they get their compliance costs covered, and the ONLY way to finance SS and Medicare without breaking everyone! Wee need to get a transcript.
Definitely, hope someone got a recording of the segment.
I found the Laffer's description of the 13% flat tax plus 13% sales tax combination to be particularly eye opening as to what the "flat tax" proponents are really shooting toward, a tax imposed at both ends.
And Laffer's recognition that the NRST is a least the equal of the Flat Tax proposals is a major concession from those folks.
With Linder's amplification of the advantages reducing to a single NRST 23% instead of a dual tax system extracting 13% earning it and another 13% spending it under the flat tax, made a perfect comparison and lead into the advantage and difference that an NRST would provide.