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To: jadimov
Good points all. Whichever way things go--whether an FT or and NST, someone is going to be unhappy. But I would probably be happy being unhappy with an NST instead of what we have today.
76 posted on 03/31/2002 3:48:30 PM PST by DennisR
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To: DennisR

But I would probably be happy being unhappy with an NST instead of what we have today.

I wish you would trash the "NST" terminology, a NST is a VAT, like Australian & Eupopean style taxes on on all levels of production purchases passed on as increased price to consumers.

The NRST(National Retail Sales Tax) is a single stage tax levied on the sale of products for consumption, and fully visible to the customer, as opposed to being levied on value added in regard to production of an NST and passed hidden in price.

The NST & NRST are quite different animals. The current income/payroll tax system operates as a subtration method VAT, an NST and the Flat Tax proposals changes none of that.

see:

Flat Tax as Seen By a Tax Preparer
by Vern Hoven

The compliance costs imposed business simply do not go away under a Flat Tax. The 65 cents for every dollar of tax revenue collected is fully active and adding to the price of goods and service under a Flat Tax just as much as it is today under the income/payroll tax. Under the Flat Tax Congress is still calling the shots on what is deductible for a business, the IRS still is sitting on both individuals and businesses to assure accurate tax reporting, the litigation does not go away.

93 posted on 03/31/2002 4:44:34 PM PST by ancient_geezer
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