[Hydroshock]

Economy/Credit/Housing Issues Ping List

If you want on or off this list let me know.

[mtbopfuyn]

Next they’ll tax air.

[willgolfforfood]

This is the best a FINANCIAL network can do? A national sales tax is NOT the same as a VAT tax.

Sheeesssshhhhh..........

[3AngelaD]

Uh, that would be ON TOP OF the income tax we already pay? No doubt. When did they put Gov. O’Malley of Maryland in charge of the Treasury?

[Jersey Republican Biker Chick]

I am barely surviving now....

National Sales Tax....call me homeless.

[sinanju]

Further proof that the whole “Fair Tax” is something dreamed up by the Scientologists (or the guy that wrote “The Wizard of Oz”). National Sales Taxes are ALWAYS levied on top of existing taxes.

A Flat Tax is the way to go. Unlike this “Fair Tax” it actually has a successful track record in over 30 countries so far. Beginning with Hong Kong in the ‘fifties and now spreading over the countries of Eastern Europe and the former Soviet Union.

[skepsel]

String the bastards up.

[Paladin2]

Sounds like a fair tax.

[SGCOS]

...The U.S. currently has no national sales tax, also known as a value added tax, ...

News to me.

[NeoCaveman]

A sales tax, on top of the income tax? No.

Not just no, but hell no!

[RinaseaofDs]

They can discuss it until they are blue in the face. Anyone voting for this will end their career in politics.

Idiots.

What is it about ‘Republican and Conservative’ do they not understand?

[ex-snook]

Put the tax on the high-end sales market. It’s the only growth sector and the higher price would improve purchaser’s conspicuous consumption.

[mvpel]

The tax would be one option to help offset revenue lost from lowering corporate taxes.

Because heaven forbid they actually CUT SPENDING and fire some useless bureaucrat overseeing the managers of scientists studying bear DNA. Can't have that, now can we?

[CharlesWayneCT]

If you eliminate the corporate taxes, and replace them with a sales tax, there are some advantages.

First, it means U.S. corporations are taxed less. That lowers their expenses. Either they can lower the price of goods (offsetting the sales tax), return it to shareholders, or use it to grow.

It also makes them more competitive in the global marketplace.

Meanwhile, we would pay the sales tax not just on items purchased from U.S. companies, but on EVERY item from all companies. So in effect it would be taxing foreign corporations for the business they do in this country. Again, helping U.S. companies who currently share the entire burden of taxes while the foreign companies skate.

There are problems with a national sales tax. It is regressive (probably not an issue amongst us here), and it is a new tax. But we are already paying the corporate tax through the price of goods and services.

I’m not saying I support this idea, just that I can see some positive effects. The negatives have been covered here pretty well.

[RobRoy]

I would LOVE a national sales tax if, and only if, they abolished the income tax.

Getting taxed on both ends is insulting - at the very least.

[calex59]

I think politicians miss the point of lowering taxes. You are not supposed to lower them in one area and then raise them somewhere else to make up the difference. Don't you wish we, as individuals, had this power? Simply tax your employer so you get paid more. If he complains about high wages tax him for letting you park in his parking area and cut wages. That should make him happy./SAR

Politicians, the scum of the earth. Why we actually think we need them, I don't know. Citizens who take turns at the helm should be the order of the day and I believe that was roughly the idea when the constitution was penned. We have allowed a whole class of professional power brokers to take over this country and have allowed it almost from the start of this government but we keep making it worse instead of fixing it.

[The Duke]

This article seems to be equating a national sales tax with a VAT. As I understand it a VAT applies at each stage of the manufacturing process, while a national sales tax might apply only at the point of final consumption.

VAT’s are for countries with greedy, lowlife governments that would strangle their citizenry for a few extra bucks - no wonder it’s getting support in Washington.

I think, if enacted, American may be going down for the count. :(

[Red Boots]

Perhaps I’m wrong, but I always thought there was quite a difference between a retail sales tax, and a value added, or VAT tax. This article says they’re the same thing.

[retr0]

Here we go once again - doing favors for “corporations” at the expense of the general public. If the proposed corporate tax rate change will result in a shortfall, please explain to me why it becomes incumbent upon the taxpayer to make up the difference?

Corporations and their unaccountability are the among the biggest reasons this nation is crumbling as it is, why should we do them any more favors when ultimately they’ll just export their factories out of this country anyway?

Blatant ignorance is running rampant in DC...

[BMIC]

If it’s to subisidize the lowering of coporate taxes, then it had better ONLY be charged on sales to corporations and not private citizens!