[Bigun]

Best news I've heard on the financial front in my lifetime I think!

[Nick Danger]

NRST Ping

[aruanan]

White House Floats Idea of Dropping Income Tax Overhaul

This title doesn't say what the story says.

[glock rocks]

my cpa just had a coronary.

[Anti-Bolshevik]

Abolish the socialist unconstitutional slave income tax BUMP!

[Dan from Michigan]

I like this idea.

[goldstategop]

Every one from Alan Keyes to Joseph Farah wants the income tax junked. It doesn't need to be fixed; the IRS and the entire so called "progressive tax" system has to be abolished before we slide into serfdom and outright tyranny.

[lodwick]

5% National sales tax bttt!

Do it now.

[Billy_bob_bob]

Oh, sure, now that I've given up on working hard for a living (because all of my money got taken in taxes) and set myself up to live a modest lifestyle on savings, NOW they want to go and get rid of the income tax. To heck with that! I've finally got myself set up to beat their stinking game and now they want to go and CHANGE THE FREAKING RULES!

AAAAARRRRRRGGGGGGHHHHHH!

So now my savings will get eaten up twice as fast (once the price of everything DOUBLES when this tax is imposed, you just wait and see) and I'll have to go back to work anyway. Plus, they'll find to way to keep the income tax too! Just wait, you'll see. The government won't quit squeezin' until we're all singin' soprano.

[B Knotts]

I dunno what the orignal headline was, but this headline would make a lot more sense with the last word dropped. It's confusing as it is.

[TLBSHOW]

BIG BUMP

[B Knotts]

BTW, this is great news, and I hope they are somehow able to accomplish this.

[Bigun]

News you MAY just be interested in!

[nocommies]

it would be monumental, and it would make gw bush automatically one of the greatest presidents weve ever had, in combination with the terrific ass whooping and liberation hes about to give to iraq.

[plain talk]

Could you post the entire article so those of us without an account with the N Y Times can read it? Thanks.

[Woodstock]

That would be a fresh start to make our forefathers proud and an amazing thought!

[NordP]

I like this idea a lot, too, but I was listening to Walter Williams when he filled in for Rush. This guy called in and said that he owns a business where his clients are big corporations, and they traditionally don't pay their bills until sometimes 60 or 90 days out, and the tax on what they buy would break this guy's account if he had to pay the tax before he got paid for the job.

I hadn't thought of that.

Also Walter Williams said that it wouldn't be 17%...it would be more accurate to guesstimate closer to 30% tax on all you bought.

Since the White House has people reading our Dose thread, I figured they might look at what people were saying on this thread, too. FReepers are very smart people, you know ;-)

I'm just so glad that this President actually WORKS while in the Oval Office, and actually CARES about the people of this great nation! Way to go W!!!!

What do you all think about those to issues?

[Rome2000]

Sounds like a good idea to me.

Lets put it to a vote!.

[CyberAnt]

OMG - he really said that ...??

The dems are going to fall over from cardiac arrest.

[T Ruth]

Abolishing the income tax would be a great idea.

Is this story published anywhere besides the NYT?

I wonder that the White House would float this story on a Saturday -- strange choice if they wanted to catch the news cycle.

[FreedomCalls]

This is a really bad idea. Britain did the same thing. They eliminated their income tax and replaced it with a national Value Added Tax (VAT). A few years later when the tax-and-spend folks got back into office, they re-instated the income tax. Now they have BOTH!

There is also a huge underground evade-the-VATman movement of goods around that are untaxed. It won't eliminate the taxmen.