Uh-oh. The Kool-Aid drinking NRSTers are going to be all over this in no time. The over/under for this tread is 200 by the end of the day.
Uh-oh. The Kool-Aid drinking NRSTers are going to be all over this in no time.
Getting the adhominens in early, I see. Guess I had better ping in a few Kool-Aid drinkers to handle the rush. I'd hate to disappoint you YN.
The over/under for this tread is 200 by the end of the day.
Well I certainly hope so, the more that learn of the National Retail Sales Tax and its advantages over the income/payroll tax system the sooner it will be enacted.
- Dramatically reduce the costs of goods and services by 20 to 25 percent.
- Allow you to keep 100 percent of your paycheck, pension, and Social Security payments.
- Gross Domestic Product will increase by almost 10.5 percent in the first year after enactment.
- Compliance costs would decrease by 90 percent.
- Real investment would initially increase by 76 percent relative to the investment that would be made under present law. While this increase would gradually decline, it remains 15 percent higher than under the existing tax structure.
- Exports would increase by 26 percent initially and would remain more than 13 percent above the level under the current tax system.
- Real wages will increase.
- The working poor would experience an increase in real lifetime consumption of between 8 and 14 percent.
- Increases incentives to work by as much as 20 percent in many households, leading to higher economic growth and efficiency.
- Interest rates will fall 25 to 35 percent.
John Linder in the House & Saxby Chambliss Senate, offer a comprehensive bill to kill all income and payroll taxes outright, and provide a IRS free replacement in the form of a pure consumption tax:
H.R.25, S.1493
A bill to promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national retail sales tax to be administered primarily by the States.
Who's serving the Kool-aid?