Inching Away From Income Tax

Washington Post ^ | 10/31/02 | Jonathan Weisman

[Tumbleweed_Connection]

IN 5 DAYS, THEY'LL BE VOTING DEMOCRAT

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[per loin]

The income tax makes all American products more expensive, while the price of foreign products is unaffected. Switching to across the board tariffs would raise the cost of foreign goods and aid the domestic economy.

[taxcontrol]

Ok guys, we need a catchy name for the new tax. Let's get those proposals on the table. I'd recommend any of the following:

The fair tax
The equal tax
The universal tax
The treat every one the same tax

Others?

[Sinner6]

How about "Screw the rich tax"? Even if the new tax system is more fair people here(MN) won't vote for it unless it hurts the wealthy\prosperous\hardworking\business.

[discostu]

Any for of tax is going to make products more expensive. But anything that doesn't give uncle sam his cut before I even see my paycheck is an improvement.

[per loin]

Any for of tax is going to make products more expensive

Yes, but some forms give an advantage to foreign manufacturers over American ones. Other forms, such as tariffs, the opposite.

[Bob Buchholz]

How about 'sales tax'?

[rogerthedodger]

smart tax?

[BlackbirdSST]

Since the Treasury Dept can't pass Tax Law, this is just busy work and fodder for the press. Pure folly!!! Blackbird.

[Maximum Leader]

The best plan would be the "untax". :o)

Actually this is an interesting article. I hope they do make a strong push for tax reform. From an economic efficiency standpoint, the best tax would be a national sales tax. However, the lack of the progressivity is just going to give an issue to the Dems to beat the crap out of us.

There are several proposals for a "progressive consumption tax" (google those words and you'll come up with a bunch of articles on the subject) that will give us tax system that Dems might sign on for because it mantains the progressivity of the system (i.e. the rich pay more than their fair share) and yet will give us most of the economic benefits of a national sales tax.

Not ideal, but as Pay Moynihan once said big reforms pass the Senate 70-30 or not at all. Unless we can get some liberals support a tax reform plan, why waste the time and just give the class warriors a free campaign ad (exhibit A - Newt Gingrich's efforts to reform Medicare were for naught and cost us seats in the House because he didn't line up Democratic support for his proposals. He would have been better off shelving the plans).

[discostu]

That's what tariffs are really all about. Any form of taxation will hit locally produced good harder than foreign because more of the process is subject to local taxation. Tariffs are a method of evening that out. But you want to be careful with tariffs, getting punitive with them causes bad feelings that can accelerate into a full on trade war. Trade wars aren't good and when your country produces more than anybody else and consumes more than anybody else you have more to lose than anybody else.

[xrp]

How about the "Optional Tax". A comsumption tax is a voluntary tax. However, I believe that items such as healthy food and medicine should not be taxed.

[Will]

A sales tax with exempted food, basic clothing, utility services, and higher tarriff would be just fine with me..

[Grit]

Define "healthy" and "medicine"...

[ServesURight]

However, I believe that items such as healthy food and medicine should not be taxed.

Then you'll have the Democrats and special interest groups demanding that their pet product or service be exempt from the Federal Sales Tax (My proposal).

Which means that the tax will be higher. Everything should be taxed at the same rate, then the rate would be lower.

[xrp]

Healthy food is stuff that is recommended for a good daily nutritional diet. Things like beer and chocolate chip cookies would not be tax-free.

Medicine is whatever you get by prescription. I don't think non-prescrip medicine should be tax-free.

[kayak]

ping

[SGCOS]

How about we get rid of Medicare, Medicaid, Social Security, the gore tax, prescription drug benefits, congressional pork, subsidized housing, feel-good programs, property tax, car taxes, school taxes, city tax, county tax, state tax, capital gains tax and all the other $hit that consitutes nothing more than a black hole into which our hard earned money goes into?

[taxcontrol]

Perhaps it is strategery - designed to put the Demos on the defense for the next election cycle?

GW has show great skill in think for the long term. I suspect this is a move to put / push the Demorats into a corner.