Fair Tax is a good solution for everybody. Except criminals. Which is probably why government doesn’t like it.
Ayn Rand must have edited this guy’s dialogue out of Atlas Shrugged for sounding too implausible. :)
A lot of rich folks moving in the near future IMHO.
(A) “States are the labs of innovation,” said Noel Frame a state senator in Washington.”
(B) No longer will states “get pitted against each other,” she added.
(A) cannot be true unless states are “pitted against each other”, for unless they are there is little incentive to innovate.
“But taxes are different. This is why we are all here together.”
Translation: They are not really for innovation in taxes; their overall goal is in the end to have state taxes all the same, and such that “the rich” cannot think they can move to a better tax climate.
Dims are 100% for a centralized unitary state by any means possible.
Actually, a good start would be to raise taxes for interest paid on Treasury bonds held in taxable accounts. The Fed has upped the discount rate from .5% to 4.5% in a year and the super-rich are now receiving a windfall income boost.
Of course, pension funds and other tax-exempt or tax deferred accounts would not be affected, but foreign investors, who make up more than 40% of the Treasury bond holders, would be.
Actually, this type of tax has existed for a long time, not only affecting the wealthy but everyone who owns real property. It's called property tax. BTW - all states have a property tax, with some being more onerous than others.
And again, malevolent legislative innovation, pushing the bounds where a truly self-governing body of legislators would dare not tread.
they need to stop this: Florida and Texas are filled up ...