Taxing income, any income whatsoever, is ridiculous anyway.
Go with a sales tax. If you buy something, you pay a tax. If you earn something, its yours.
This country needs to get away from taxing production, and start taxing consumption.
Not one or the other.
Go with a sales tax. If you buy something, you pay a tax. If you earn something, its yours.
This country needs to get away from taxing production, and start taxing consumption.
Not one or the other.
I agree. Unfortunately, it's a concept many FReepers fail to understand.
(Added benefit: IRS employees, accountants, and lawyers will have to look for substantive employment.)
“This country needs to get away from taxing production, and start taxing consumption.
Not one or the other.”
You make it sound as if consumption was bad or something. It is not. It’s an essential part of the economy and a free market plan would not be biased against one or the other. Otherwise you’re going to end up with a production bubble. You want to have low rates on production and consumption, capital and labor.
With the added benefit that EVERYONE pay's into the system, here legally or not.