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[icon] consumption / sales tax forget income tax - yap yap yap!
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Subject:consumption / sales tax forget income tax
Time:07:43 pm
So think about this .. we pay 52% in federal income taxes. That's a lot. So let's talk about a consumption tax. No income tax, no property tax. You get your entire check and you get an extra consumption / sales tax.

If we look at GDP per capita 2005 was $42,079. To get the current amount taxes colleted you'll need to generate $2.2trillion you will need a 16% tax. So let's assume some inefficiency and take it up to 20%. It's still much better than what we have now.

So I suggest, as many do, we tax any purchase. Homes, cars, tvs, excluding food. Pay as you go. Simplification of the tax code of course is of course a plus.
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[icon] consumption / sales tax forget income tax - yap yap yap!
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