Posted on 03/05/2005 7:49:13 AM PST by Pendragon_6
(CNSNews.com) - New York Democratic Congressman Charles Rangel Friday responded to suggestions that the federal income tax be gradually replaced with some form of consumption tax, saying that equal taxation is unfair.
Federal Reserve Chairman Alan Greenspan told the President's Advisory Panel on Tax Reform Thursday that the current U.S. tax code is so complicated as to be a drain on the economy.
"A simpler tax code would reduce the considerable resources devoted to complying with current tax laws," Greenspan said, "and the freed-up resources could be used for more productive purposes."
Rangel responded that any tax of that nature, such as a national sales tax, would be an injustice.
"When you have a tax, where you pay the same tax whether you're wealthy or you're poor," Rangel said, "that's not fair."
a. why would it slow down retail and other businesses
and
b. cause a black market? don't we already have one?
Huh? Most states and counties in the United States of America have a consumption tax. It is a very tried system.
Please click on the link in my previous post and take a good look!
I think you will like what you find!
There are an ever-increasing number of liberal thinkers around these parts.
Very well.
Then figure out a way to prevent the unfair acquisition of wealth, and we won't have to redistribute it.
Nice reply....but not "on the ball"
Perhaps the portly Edward Kennedy ( for example)wouldnt mind if he paid a 2% flat tax against his total wealth just like everybody else ....and do away with the IRS as well. He would still have ample funds left to take care of his investments, toys, homes, girl friends, and still buy all the Jack Daniels he wanted as well as buy floatation devices for his vehicles, leaving the vast bulk of himself and his wealth to grow.
Because it punishes people for spending money.
Which reminds me: If we do end up with a national sales tax, will they also tax the sale of stocks and bonds?
I would hope so.
Surely if a poor woman must pay tax to buy her children shoes so they can walk to school . . .
then a rich person should pay tax on the purchase of stocks and bonds to accumulate wealth.
How is aqusition of wealth unfair? I can't wait to read your explanation.
With the plan I support he would pay tax on brokerage fees but not on the instruments themselves.
And lottery tickets.
the bottom 50% ...pay nothing ..nada....and you call that fair...
Not exactly, part of their FICA withholding has been paying for the annual operation of the Government!
I imagine they'll be outraged when they finally figure it out.
Perhaps you'd like to define "the fair acquisition of wealth"
We asked you first.
The profit to governments from selling lottery tickets are already a tax on the sale of them.
With the Communist inspired progressive income tax we currently labor under in this country that is EXACTLY true!
See TAXES FOR REVENUE ARE OBSOLETE by Beardsley Ruml, Chairman of the Federal Reserve Bank of New York.
A wealth tax would not be taxing the rich out of existence at all....and it might be better than the mess we call a tax code now.
Tunnel vision to new ideas before they are evaluated isn't too bright. I'm no advocate, just trying to see a better way. The VAT and the consumption tax seem patently unfair
I can easily do so but since you were asked first it is only right that you go first.
Nobody has brought up a VAT here, so let's set that aside. Exactly how is a consumption tax unfair? Don't the wealthy, by definition, consume more?
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