The US economy is based on consumption. For several decades, it has been the most productive economy in the world, fostering the greatest gains in class mobility of any polity to date - even the "poor" have luxuries such as AC, electricity, cars, cellphones, computers and lifestyles which would be considered upscale in many places around the world. Because of the strength of the economy, there is a very large and largely satisfied middle class, much of which depends on jobs in retail and manufacturing sectors.
Your beloved consumption tax completely skews spending, and enables the creation of tax dodges hitherto unknown - it'll be the broken window scenario (to exponential effect - that will spread).
The original NRST idiocy had new home construction included - of course, at a 23% rate, there would be no more 80% financing,because no bank would be willing to cover a loan with an appraisal that far under loan value. Same thing with cars, boats, many appliances.
You can take those out of the mix, but what does the necessary increase do to the business of financing and obtaining new furniture, linens, and other household goods?
Wanna exclude those, too?
You understand that the tax is just on the home, and not on the land it sits on, right? (The land is a "used" [previously taxed] item.)
Don't stand near an open flame. Pooooof!
And 50% of the population not paying income taxes now is not a "tax dodge"?
The original NRST idiocy had new home construction included - of course, at a 23% rate, there would be no more 80% financing,because no bank would be willing to cover a loan with an appraisal that far under loan value.
Does current home values, appraisals, sales price, and mortgage loan to value calculations exclude the already imbedded taxes that approach 30%?
You can take those out of the mix, but what does the necessary increase do to the business of financing and obtaining new furniture, linens, and other household goods?
Neccessary increase of what? What is being increased?
So we are so well off with the current tax code? The current tax code is responsible for the strength of the American economy?
Your supercilious insult argues against you; your position that the current tax code is GOOD for America seals the deal--you think the current tax code promotes production and consumption? What were you, born in France?
And it's quite clear that neither you nor the author of the article have read anything on the NRST, as it has been proposed.