On Fri, 07 Sep 2007 18:28:14 +0000, Joerg wrote:
Chuck Harris wrote:
John Larkin wrote:

Income tax makes no sense. There should be only one tax, on
consumption, and it should be fully visible, as sales taxes are in the
US, not hidden like VAT.

Agreed, but the last thing the government would want is for you to be
constantly reminded of how far they have their hand into your pocket.

Imagine that instead of the 5 to 7% that most of us pay in state sales/use
tax that it was, say, 29% I think that might be a bit of a shocker.

Also, taxes on consumption are by nature highly regressive. The poor
by pay a greater proportion of their income to buy consumables (like food,
clothes, transportation and shelter) than do the rich.... I'm not saying
that is necessarily a bad thing... but I think it would cause a revolution.

The rich would pay the same percentage on their boats, limos, airplanes,
Lexuses, Benzes etc. If they don't consume the income then their heirs
most likely will.

Yes, and that will clearly never happen, precisely because "the rich"
would have to pay their "fair share" - there would be no tax evasion,
like is so rampant now, because they'd pay at the point of sale.

But, unfortunately, it will never happen, because of the golden rule:
The guy that's got the gold makes the rules.

Humph!
Rich