John Larkin wrote:

On Fri, 07 Sep 2007 18:28:14 GMT, 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.

John


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.


And what they don't consume, they invest.


The other good news would be that you could then give to charity much
easier. Pull out wallet, put in big chunk, don't worry about the hassle
getting a statement from them. Plus no 50%-of-income limit.

--
Regards, Joerg

http://www.analogconsultants.com