We can debate the economics of consumer price levels post NRST til the cows come home. I think all would agree that there will be beneficial rollback of the price of goods and services due to competitive forces and the tax and regulatory relief the plan affords. But I don't see any debate on the stimulative effect of taxing consumption vs. earnings. That, to me, is the clincher of the whole argument. The naysayers are not seeing the forest for the trees. When you have phenomenal prosperity and freedom from intrusive taxes you can afford to pay a little more for your next boat.
Defintion of a boat:
Hole in the water you pour money into.
"I think all would agree that there will be beneficial rollback of the price of goods and services due to competitive forces and the tax and regulatory relief the plan affords. But I don't see any debate on the stimulative effect of taxing consumption vs. earnings. That, to me, is the clincher of the whole argument. The naysayers are not seeing the forest for the trees. When you have phenomenal prosperity and freedom from intrusive taxes you can afford to pay a little more for your next boat."
All good points, groanup, but I think that another huge benefit is that we once and for all eliminate the advantage that our tax system affords to foreign producers at the expense of our own domestic producers. This is something that we have done to ourselves and we as a nation can correct it. With globalization being THE economic megatrend of the first part of the 21st centruy, it is crazy to continue in this vein.