If you are revenue neutral, some will pay lower taxes and some will pay higher but not the same groups as before and the ones who will now have to pay higher taxes under the new plan will be pretty peeved.
Peeved? Well I'm peeved now, and so are millions of other people.
Did you notice that the FT legislation is a tax on consumption? That means that the taxpayer has a CHOICE of where and when to pay taxes. Let them be peeved. They can't be any more peeved than the rest of America is right now.
There are always winners and losers in any change in the tax system.
Did you notice that the FT legislation is a tax on consumption? That means that the taxpayer has a CHOICE of where and when to pay taxes. Let them be peeved. They can’t be any more peeved than the rest of America is right now.
-
the losers...won’t support the plan.
if people need to spend, they will be hit while people who don’t need to invest will get a free pass. The companies that sell stuff and the people who work for them will be hit. On the other hand, everyone and his dog will be an exporter. You can’t just put the entire tax burden on one part of the economy. You want a balanced, diversified economy and that means a low tax on both consumption and capital.