As your should well be.
The NRST is an inherently regressive form of taxation that is truly despotic. Long term, it would result in a two-tiered socio-economic stratification of our society. It is not disimilar to a 21st Century eco-feudal system where the corporate aristocracy invest and expand their property holdings completely tax-free, while the serfs are overburdened with the excessive taxation on consumption and persuaded that it's supposedly "fair" because the consumption taxes are redistributed through the formal social welfare system.
Posing as "tax reform", the NRST (HR 2525) also represents a "land grab" where business interests are favored over individuals purchasing for their own use:
"... legislators cannot invent too many devices for subdividing property, only taking care to let their subdivisions go hand in hand with the natural affections of the human mind. The descent of property of every kind therefore to all the children,...But it is not too soon to provide by every possible means that as few as possible shall be without a little portion of land. The small landholders are the most precious part of a state."
-- Thomas Jefferson to James Madison, Oct. 28, 1785 -- PROPERTY AND NATURAL RIGHT
Willie I didn't see real property mentioned in the presentation.
Please clarify your proposition which on the surface appears to have merit if this sales tax is indeed applied to real property.
It will be a ONE TIME FEE. As compared to the constant annual assessment on the fictitious entity known as "income".
Over time with the boost in productivity and wealth gained from the release of unproductive capital currently locked up in the tax code people will learn "government governs best that governs least"
Best regards,
Linder Receives "Thomas Jefferson Award"(01/01/2003) Food Distributors International (FDI) has given John Linder "The Thomas Jefferson Award" for his consistent support of free market principles and Jeffersonian ideals. The Thomas Jefferson Awards were presented to members of the House of Representatives who have voted consistently in support of efforts to move power beyond Washington and back into the hands of the American people, specifically in areas such as tax and budget matters, and labor and regulatory policy. The Thomas Jefferson Award is given to those members of Congress whose voting records demonstrate a commitment to sound fiscal policy, minimal government regulation and other free market principles. The award program was inspired by the philosophies and writings of Thomas Jefferson, who in his first inaugural address noted, "A wise and frugal government
which shall leave men otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned. This is the sum of good government."
First of all, real property wouldn't be included. Second, this so-called issue is easy to solve and takes a trip to the court house and about 8 bucks (at least in Texas). All you have to do is create your own real estate investment company that consists of you, your wife, (or whomever), purchase the house, and "rent" it to yourself. Real Estate loans (after the property lien) are based on personal guarantees anyway, so the mortgage company isn't going to care. So you create a sole proprietorship landlord company with only one tenant: you. Big deal.
Hmmm, how can the average homeowner become a business investor? :)