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1 posted on 07/30/2012 7:23:34 AM PDT by Kaslin
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To: Kaslin

That is awful!!!!!

But look at taxation in the US anyway! It is crazy!!! See last table from this economist.

http://confoundedinterest.wordpress.com/2012/07/30/sovereign-debt-rollover-can-the-ecb-and-fed-resolve-the-debt-crisis/


2 posted on 07/30/2012 7:28:09 AM PDT by whitedog57
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To: Kaslin

I kind of shy away from flat income tax - it retains withholding, it retains business taxes, it retains FICA in addition to the income tax, and it is not border-adjustable.

Withholding prevents the taxpayers from fully understanding how the cost of government reduces their earnings.

Business taxes do the same thing by hiding some of the cost of government in higher prices, lower wages, or reduced ROI.

FICA [both ee and er] being separate has the same effects as the two above.

And since the flat income tax isn’t border-adjustable, the costs of our taxes still go into exports - making our export products that much less attractive.

All that said - it would be better than what we have now. For a while anyway. I’d prefer a system that did not have withholding, did not have business taxes, did not have FICA, and was border-adjustable.

just sayin’


3 posted on 07/30/2012 7:42:11 AM PDT by Principled (It's not enthusiasm for Romney, it's grim determination to remove Hussein)
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