I disagree, though I understand the sentiment. I believe that if we were to move to a retail tax, nothing could be exempted for fear of the number of exemptions increasing over the years. A whole breed of lobbyist would be created, dedicated to showing congressmen why a certain product should be exempt.
Exactly true! There is a better way!
In 1976, then President-to-be Jimmy Carter said,"Our income tax system is a disgrace to the human race." Twenty-five years later, in 2001, Treasury Secretary Paul O'Neill said of the income tax system, "An advanced society such as ours deserves better."
The time for tax reform is... NOW!
Yes, this is exactly what would happen. THe NRST bill writers anticipated this and wrote a bill so that necessities are untaxed yet no specific item or items are exempt.
This is accomplished by proiding EVERY single individual with a prefund of taxes they'll pay on necessities in the coming month.
Think of it. Individuals will have to decide themselves (gasp) what is necessary! Their spending, up to the necessities level (poverty level as defined by HHS), is spent with zero tax liability. That's EVERY taxpayer with NO TAX on user-defined necessities.
I stress that the prefund (or prebate) is provided to ALL individuals regardless of income- there is no keeping up with what or how folks earn their money under the nrst. Bill Gates will get a prefund and so will I -