Now, the income tax sucks as does the capital gains nonsense (that's the one I wanted burned in a vat of acid), but the thing about the income tax is. You can use withholding, accountants, etc, so while you are paying money, you don't have to come face to face with it on a daily basis that you're getting squeezed
Oh, its alright if the squeeze you, just don't bother you with the knowledge so you might have to do something about it. I see.
Your desire to hide taxation from the eyes of the individual citizen it deplorable. Playing the ostrich will not make it go away, trying to pass it on to the other guy will not make it go away, in fact experience has shown that such manner of taxation inevitably rises until it so burdens an economy that a nation is driven to stagnation.
Ostriches may be a somewhat successful species by making themselves look like a bush or tree hiding their head in the sand. Unfortunately low flying buzzards roost in trees and sh't all overthem.
With a sales tax, you are reminded on a daily basis about taxes, you are reminded every day that it's the government's fault that no price advertised is an actual price, etc. You still have the exact same hatred for the tax man we have today, except you get to be reminded about it every 6 hours.
Now you catch on, you are not supposed to like or tolerate high taxes, you are supposed to be mad enought to do something about it.
If you want smaller govenment there is only one way to achieve it, remind voters daily just how expensive big government really is personally and up front and in their face.
And another thing, no one has yet addressed my point about sales taxes and credit. Credit purchases are generally taxed just like anything else.
What's your question, I haven't notice it.
Yes you pay the NRST on credit purchases, Yes finance companies will carry the risk of default on that tax as any tax not paid in the service of the debt will be credited back to the lender.
So what precisely was your issue, if that does not answer the question?
Well, it was in 540
But it was part of my main point that creditors would hold the debt.
Now tell me, what caused the Depression, was not the Gold Standard, was not the stock market crash in and of itself.
What happen was, the entire economy of the 1920s (like the 1990s, I'm afraid to say) was financed on credit, rich and poor alike went on a credit frenzy. So when the stock market crashed, all this money evaporated, so when creditors tried to collect, well, it was a vicious cycle.
I do hate FDR, but I will admit one thing, if it had not been his program, we would have ended up with much worse. I seriously believe Huey Long could have become President in 1936, and what does that say for America at that time.
We're lucky we escaped the 30's with some form of free government (somewhat) intact, especially when you look at what happened to Germany and other countries.
The entire economic future of this country is hinged on credit, and that is the foremost basis of my entire opposition to the NRST. My belief is, at some point, we will have a downturn and that credit bubble is gonna bust. If you consider the Depression the worst recession of all time, and then put it in a category of "depressions" or, bad recessions. Then by the rights of the time scale, we are overdue, and we are now more entangled in credit than ever.
Does the FDIC insure, yes it does, up to (I still think 100k)
100k was worth alot more in 1933 then it is today, so while it is more difficult to occur, bank failure is entirely possible if it gets bad enough
With a NRST, you are just adding a higher volume of debt in a society that's already gone rabid, and I hate to break it to you, this economy is not as stable as we would have it.
As a result, I'm not in the mindset that we need to be adding more to the debt thru legislative fiat, because if credit in this country goes, our whole system is gone.