CAVUTO REPORTS THAT BUSH CONSIDERING SCRAPPING THE IRS CODE!!!

Fox News Channel | November 6, 2002 | n/a

[Tree of Liberty]

Neil Cavuto just interviewed Mitchell E. Daniels, Jr., the director of the OMB, and Neil let it be known that he's hearing rumblings that Pres. Bush is considering a total re-write of the tax code and that SecTreas O'Neill is strongly pushing a national retail sales tax!

[null and void]

If Bush got this done, he would go on Mount Rushmore.

You're kidding, right? I'd replace the Man on the Moon with his image!

[Phantom Lord]

Say that the NRST is 20%. Even if it was that high, the price of goods would still be below what they are today. There is far more than 20% of the prices of goods that are being paid to cover others taxes.

[Arthur Wildfire! March]

Bush is considering a total re-write of the tax code and that SecTreas O'Neill is strongly pushing a national retail sales tax!

Excellent! So, perhaps Alan Keyes made some sense during those debates? But Bush knew it wasn't the right time to talk about it.

You want to talk about stimulating the economy? Boom! Insto-presto!

[Phantom Lord]

The problem is that it is untried and uncertain, and therefore it could backfire.

The concept of America was untired and uncertain. Thankfully those who dreamed of America took the risk and the reward has been the greatest advances in human kind and freedom of all of history in a short 225 years.

[Mensch]

Don't tease me this way, its not kind,

[blam]

This is in line with my desire for years. ...and that is, if you don't pay taxes, you don't vote. This essentially does that.

[palmer]

Not many drug dealers are currently paying income taxes, so that's a wash.

I'm talking about enforcement, not revenue. If buyers can get drugs without paying sales tax, they will be able to get anything without sales tax.

[Arthur Wildfire! March]

I think Bush would be happy to have a cross placed on the moon instead. That is why I'm starting to like him. FReegards....

[VaBthang4]

"If Bush got this done, he would go on Mount Rushmore."

While he is still in office!

[hchutch]

Best to tie a provision in the flat tax mandating a conversion to the NRST upon repeal of the 16th Amendment in that case.

[null and void]

My greatest concern? A NRST will be implemented, but they'll keep at least part of the income tax. And then the income tax will slowly creep back up. And we'll have the worst of BOTH worlds.

We're going to have to watch this sucker like a hawk.

True, no man's life liberty or property are safe as long as Congress is in session - Will Rogers

I'll take the risk, a few decades of lower, simpler taxes would be worth it all by itself...

[Bigun]

I would say so! Yes!

[Arthur Wildfire! March]

20% is not enough of an incentive to black market products. Look at the cigarette tax. It really has to jump high for the black market to get involved.

[agrace]

I'm with you. I pay more in property taxes than I get back for interest paid. And even so, who cares, I would just rather see the money up front than wait for it once a year.

[crusher999]

Yeah....but when you consider that your only keeping about 50% of the money you make (under the current tax code)...you'll actually net a 30% value increase.

[Tree of Liberty]

It might be the sleep deprevation getting to me, but my gut says this isn't a tease.

[Ditto]

That's not true, sales taxes are actually harder on the poor as they have to spend a much hirer percent of their income than a richer person does that can save money.

Go to www.fairtax.org and read the bill. There is a 'prebate' provision where each individual regardless of income gets a check from the Treasury each month for the amount of sales tax they would pay on spending up to the poverty level. Low income people will only pay on the protion of their spending above the poverty level and so on up the income scale.

The truly working poor will pay no tax under the NRST. That includes SS and Medicare taxes which the accounbt for all of the taxes on the working poor today. Those with large hidden incomes such as drug dealers and other who currently avoid the income tax entirely will pay their 'fair share of taxes" when they head to the BMW showroom!

[Arthur Wildfire! March]

I'll take the risk, a few decades of lower, simpler taxes would be worth it all by itself...

Combine a national sales tax with school choice, and kids would learn history well enough not to repeat it.

[Molly Pitcher]

That's right. Thanks for the reminder about the re-air.

[hchutch]

To respond to Post 253:

I don't know, either, but Forbes got his butt kicked by Dole in `96 over this. If I knew why there was a hang-up, it would make it a lot easier to address said hang-up.

As for the 401(k)s, that needs to change. We ought to encourage people to save for retirement, and get rid of the hit when they withdraw after the retirement age for Social Security.

Now for Post 256:

Forbes had a good plan - I supported him in `96 and 2000 (Hatch was a close second in 2000).