That way you aren't taxing savings twice like the silly sales tax plans do.
“That way you aren’t taxing savings twice like the silly sales tax plans do.”
You bring up a good point, that has been discussed before between myself and other FReepers. I have not yet come up with an equal justice under law solution to that problem.
I will never, ever support a tax on income, which was instituted by a liberal/progressive (supported by the elitists of his time) in order to stifle personal freedom, institute the welfare state, consolidate power and decay our system of government. You cannot tax labor, or people will refuse to work. It’s that simple. It does not allow anyone to opt out or protest the tax, in addition to stifling productivity.
IF I believed in an income tax, then a flat income would be the most appropriate, with no deductions. But it would have to be on the order of less than 1% of income. That’s what the income tax was sold to be, anyway. But once the government gets one hand on something, it will surely grasp it with the other.