[sixmil]

I haven't seen you around in quite a while, but that was an excellent post. I can't remember what we used to go back and forth about, probably it was tariffs.

So far, we know that income tax is bad, not many people are serious about replacing it with a sales tax, and now this transaction tax seems likely to flop as well. So, why not admit we were too stupid to stick with a system that worked, swallow our pride and go back to tariffs and other indirect taxes?

[TopQuark]

Thank you for your kind words. It is good to see you, too.

So far, we know that income tax is bad, not many people are serious about replacing it with a sales tax,

I cannot put my finger on this one: I cannot comprehend what really opposition really is. One would think that the sales tax is both fair (taxes consumption rather than capital or its creation) and inexpensive in terms of collection. I have not really studies the issue, but with IRS being what it is and with the tax code exploding by the day, the support for the status quo is really puzzling (to me).