[OldFriend]

Kewl!! Could he please scrap the entire dem party too while he's at it!!

[SeeRushToldU_So]

PLEASE PLEASE!!!!!!!!!!!!!!!!

[jejones]

I fervently hope that's true.

[SupplySider]

YEAHHHHHHHHH!!!!!

[mafree]

If this is true-- WOOOOOOOHOOOOOOOO!!!

[Nakota]

Makes sense. The purpose of the tax code should be to raise revenue, not direct social policy. A consumption tax rewards saving and investment. This is what is called a fresh idea.

[yoswif]

Replacing the income tax with a NRST would be good for American manufacturing workers. If someone bought an American made car, the cost of the U.S. government and the compliance cost of the U.S. tax code would not be included in the dealer cost. If someone bought a German made car, the pro rated per unit cost of the German government and the pro rated per unit cost of complying with the German tax code would be included in the dealer cost of the German made car. American car dealers could offer a better American made car for roughly the same price as a German made car. The same would apply to a California wine and a French wine or an Oregon 2x4 and a Canadian 2x4.

[concerned about politics]

strongly pushing a national retail sales tax!

If that's how our taxes will be paid?- LOVE it!

[harpo11]

Well it's about time. I hope President Bush orders a huge Texas style barbeque using IRS Code pages for charcoal.

[Bloody Sam Roberts]

I'll believe it when I see it...but WOW.

[Mr. Mojo]

I'll believe it when I see it, but if this is true, Dubya will go down in my book as a Presidential Hero.

My wish list (as far as taxes are concerned):
1) Repeal the estate (death), marriage, payroll, and capital gains taxes.
2) Institute a national retail sales tax.
3) Trash the progressive income tax, and institute a flat 5% federal income tax (no write-offs). If the retail sales tax is deemed sufficient to pay for the essentials, abolish the income tax altogether).
4) Abolish the IRS.

There are others, but I'm too tired to think about it.

Of course, for this to work, most social/welfare programs will have to be scrapped, as well as ALL foreign aid.

[El Cid]

I give this 0.0% chance of happening. Congress derives a good deal of their power from the tax-code: the money they bring in; the special breaks they can cut; the class-warfare posturing. If all of a sudden people would see the tax they'd pay on every purchase - people would become extremely interested in understanding where their tax dollars were going.
I frankly think that a NST (exemptions on food, and perhaps housing - so the poor aren't nailed) would be great for freedom, and limiting the size of government -- but its that latter point that makes it really hard for me to see how the Congress folks would allow this to happen.
I'd like it to be so -- but it presumes the existance of a Congress that was more interested in the nation than its own power.

[Travelgirl]

Gosh, if all the IRS employees are put out of work, they can do the work we currently bring people into the country to do. If they are smart enough to understand the IRS Tas Code, they are smart enough to do any job. We could then limit immigration. I like the idea.

[lewislynn]

I don't know why everyone is getting all giddy about a NST, You're in for a HUGE let down, that, isn't the plan at all.

Sec O'neill wants to eliminate the income tax ON CORPORATIONS, (no mention of indidviduals).

In order to offset "the cost" of eliminating a select group of tax payers they'll have to re-write the tax code...HELLO!

Inching Away From Income Tax
'Value-Added' Levy Would Turn System Upside Down

The Treasury is looking at long-term proposals to scrap the corporate income tax and replace it with a value-added tax, which would work like a national sales tax on consumer and corporate purchases....

More

......The United States is the only developed Western nation without a value-added tax. European nations have been able to lower income tax rates -- but not abolish income taxes -- with a system of value-added taxes that have steadily risen since World War II.

[Taxman]

Great thread. Glad you posted it.

Seems like there is a huge pent up demand (yearning?) among many FReepers for fundamental tax reform.

Good!

If you yearn to learn more about fundamental tax reform, click here and here.

And join with us to get this job done REAL SOON NOW so your humble servant, Taxman, can devote his retirement years to retirement kinds of activities! LOL!

[Hemlock]

I'll believe it when I see it. Actually, it would ultimately be in the best interest of all concerned, save some lawyers and the "tax specialists." I believe that tax revenues would actually increase after the economy adjusted to the change.

[CaptIsaacDavis]

Bush is looking at the MA vote on the income tax!!!! To the trash bin with Dick Morris and his triangulation strategies, such as "compassionate conservatism." This election has shown a sharp CONSERVATIVE trending in middle America, and splintering of the Liberal base (rise of Green, left-wing independents, etc.). It will give him an opportunity to use Reagan's strategy of pushing conservative principle as policy and thereby polarizing politics in order to split off the extremists from the Democratic Party (driving them into third parties, like the Greens -- over Iraq, health care socialism, etc.), which forces Libs in the DEM party to get more leftist to keep them, and coopts the LIBs to DRIVE moderates into the conservative camp. GO RIGHT MR. PRESIDENT!!! GO! GO! GO! While you are doing that, please don't forget to trash the Libertarian subversives and their policies (and Rush Limbaugh , please dump that ex-Marxist and anti-nationalist consumer uber alles Walter Williams !) to keep the Republican base from splintering in the process. Indeed, you would take away the only issue that most people (certainly here in MA) even care to vote for the LP for -- lower income tax rates (by the way, any party -- the Dem-LP comintern alliance in this case -- that advances trade with terror-state Cuba is an ENEMY fifth column -- period).

[TonyS6]

Excellent idea! The income tax is impossible to monitor and is a hotly debated issue among constitutional scholars. However, it will be replaced by a corporate tax, a consumption tax (e.g., 30% tax of car purchases) or both. So, if you pay less no Federal Taxes, you will only pay taxes if you consume. This will increase savings (a benefit for social security), but it will also decrease demand for manufactured goods.

[PjhCPA]

Though I make a living (and a good one at that) dealing with the piece of crap a.k.a. the Internal Revenue Code, I will would be very happy to see the whole thing nuked to oblivion. (Hey, I pay taxes too.) I can find other ways to help my clients make more money.

[patriot_wes]

I'M STILL HEADING TO WASHINGTON DC NEXT WEEK!