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Hi guys. Seems like old times again. Just thought I'd weigh in with a couple of observations. (Since I'm snowed in here in upstate NY today anyway). This discussion about taxing new houses under NRST points up a principle virtue of APT in that it is spread so wide and so thin as to virtually eliminate all such economic distortions. And another thought on the principle highlighted in Federalist 21 advancing that consumption taxes in effect seek their own level. By extension, with the 20th Century Keynesian practices and central banking, as well as global competition, the total percent of taxation is also natually limited, which is why supply-side tax cuts are used to ultimately increase and optimize the absolute amount of revenue. And as long as you have government with taxing authority, this natural limit is the only limit that will ultimately be adhered to.

And another thought on the principle highlighted in Federalist 21 advancing that consumption taxes in effect seek their own level.

ROTFLM(_|_)O!!!. somehow I suspect the founders did not have an "Automated" Payment Transaction tax on absolutely every economic transaction both consumption and production taxing everything repreatedly based on full value of every transaction in the economy no matter whether it is merely moving one's capital from one place to another or actually involved in trade, it all taxed. The perfect tax on all property, stealing the value of even ones savings and retirement investments all right beneath their noses.

Yep the perfect tax to sustain socialist government, out of sight out of mind, I do believe the old saying goes. Or is that, "there's a sucker born every minute."

Federalist #21:

"Imposts, excises, and, in general, all duties upon articles of consumption, may be compared to a fluid, which will, in time, find its level with the means of paying them. The amount to be contributed by each citizen will in a degree be at his own option, and can be regulated by an attention to his resources. The rich may be extravagant, the poor can be frugal; and private oppression may always be avoided by a judicious selection of objects proper for such impositions. "

And as long as you have government with taxing authority, this natural limit is the only limit that will ultimately be adhered to.

And only exists if the electorate can legitimately avoid the tax which they cannot do under a ubiquitous APT tax. Sorry you are as full of baloney as ever.

"Note that the BAD[Bank Account Debit, e.g. APT] tax is equivalent to a consumption tax, and income tax, an investment tax, a tax payment tax, and a capital turnover tax."
P.H. Albuquerque 2001

From APT's website:

In the words of:

Australia's Prime Minister John Howard, once referring to a proposal of substituting all taxes in Australia by a BAD tax, declared: "It would completely render comatose a workable financial system in a very rapid period of time. And in a global world in which we now live we'd basically be saying that we're opting out and going back to the jungle. I think, with great respect ot whoever is advocating it ... it's a crazy idea."
P.H. Albuquerque 2001