[Dazedcat]

Nice concept but it'll never happen. Entire industries are basically built around figuring out the tax codes and in tax preparation itself. Does anyone think lawyers and accountants will allow this to happen? Lobby groups funded by both certainly would do all in their power to squash this.

I really think a federal consumption tax on purchases would be ideal, at least that way you have some control over how much you're taxed. What the tax rate would be though would be critical to this.

Like I said though, it'll never happen. Politicans are........politicans.

[Sprite518]

Yes those tax business would leave. However, economy would then be extremely business friendly. Just think of all the people that put their money overseas to shelter it from taxes. For instance in Swiss Bank Accounts, Camen Islands, etc... A lot of that money would come here. These people would invest their money, and shelter it here. Therefore, more companies would come to the USA. Instead of people looking for jobs. Jobs would come looking for people.

Oh yes, and do not forget about the new revenue that would be generated from illegal Aliens. How many of them do not pay taxes to the IRS. They would now be paying taxes. Who knows how much extra revenue that would generate?