Surely they cannot seriously mean that average folks wouldn't have the money to increase their savings under a "best case" consumption-based system (i.e., one that maximizes the incentive to save). Therefore, I can only assume that they believe that average Americans are too stupid and/or helpless to save some/more/most of the money they're involuntarily taxed currently, if given the chance.
Why would the Pres. go on about this issue if things like the war, for example, caused him to expend political capital necessary to make this happen prior to this election?
Everybody knows that fundamental tax reform is gonna take some *serious* political capital to get done, and the very best time to do so would be in the first 6 months or so after this election, before House members have to face voters again in 2006 (and face the reliable Dem class warfare issue obsfucation that's sure to follow serious reform).
Why would the Pres. go on about this issue if things like the war, for example, caused him to expend political capital necessary to make this happen prior to this election?
Everybody knows that fundamental tax reform is gonna take some *serious* political capital to get done, and the very best time to do so would be in the first 6 months or so after this election, before House members have to face voters again in 2006 (and face the reliable Dem class warfare issue obsfucation that's sure to follow serious reform).
I've been reading a little about the Fair Tax and so far I like what I see. I hate income tax but I know that certain taxes are necessary and an end-user approach (in some things) seems to make sense.
Yeah, the 'average American versus saving' comment was a cheap shot. People can do whatever they're motivated to do.
tax reform
This is hilarious. Let's say I earn $50,000/year and fall into the 28% income tax bracket. So I obviously am middle class. I'd pay $14,000/year in income taxes (omitting Social Security/Medicare). Now, my yearly budget is $20,000 and if I paid 23% (FairTax) on that in consumption taxes, I'd pay $4600. How is that increasing my burden?
Scrap the IRS or see millions and millions more discontinue their participation in the fraud and enslavement...
"The president likes an income tax because he thinks an income tax is fair," she said.
Some Brookings Institute analyst stated it would take a 26% sales tax to replace the income tax and a 38% sales tax to replace all federal taxes. Now add those figures on to the State sales Taxes and .....
Say no more.