[BenKenobi]

Eliminating the income tax would mean that the prices on everything would go down. Substantially.

So their money would go further.

[Polybius]

Eliminating the income tax would mean that the prices on everything would go down. Substantially. So their money would go further.

So, I should not mind having been taxed at up to a 40% tax rate when I earned the money that I saved and then being taxed AGAIN at a 23% tax rate when I spend those same dollars that I saved because prices will drop like a rock.

Yeah, right. I'll buy that.

Here's the bottom line:

If you lived from paycheck to paycheck, spending like a drunken sailor, not saving a dime and being up to your eyeballs in debt, you will make out like a bandit as you will keep the stuff you bought on credit and then pay off the resulting debt with income tax-free dollars.

If you were frugal, lived debt-free and saved serious money, you will be royally screwed by being TAXED TWICE on your savings: Once when you earned it (at up to a 40% rate) and then taxed AGAIN when you spend your savings (at a 23% rate).