>> Eliminating all federal withholdings from the paycheck puts more money in the bank each payday. Less money going to the government out of my paycheck means increased money for me.
It is then up to me to decide how to spend it.
Under the current system I must control my spending because I DON'T control the taxes. Under this proposal I still control my spending but by doing so I DO control the taxes.<<
Precicely why I like the concept!
It aint gonna happen though - unless it morphs into something just as unfair as the one we have.
I would be all for a flat income tax. And by flat, I mean FLAT! Rich or poor, it doesn't matter.
And the only way I would support a federal sales tax is if the government was no longer concerned with how much money I earn - which will never happen.
I was leaning more that way myself, until I started reading the information provided to me here today. Now I'm not so sure.......
And the only way I would support a federal sales tax is if the government was no longer concerned with how much money I earn - ....
.....for just this reason.
......which will never happen.
Of course you are correct, because under either system the states will still know how much you earn and can easily share the info with the feds.
There are aspects of both proposals that I really like and some that I'm not crazy about...but anything has got to be better than the burden we are currently under.
I am all for a tax system that will promote business creation which in turn creates jobs which then creates productive members of society. All of which generate increased tax revenue fo rthe government. But I want the systems to create incentives (mandates) for decreases in government spending (read paperpushing bureacratic jobs), thus not only spreading the burden among more people, but lowering it for all.