Rich Grise wrote:

Ignoramus1796 wrote:
On 2011-03-07, KD7HB wrote:
The local IRS agent reads this news group and has made notes to look
at your next year's tax return to see how you report this money!

Naturally, I report all my income.

We could solve all our taxation problems by replacing the income tax
with an outgo tax. Don't tax what people _earn_ (or steal, etc.), tax
them when they _SPEND_ it!

Buy a $10,000,000.00 mansion, pay $1,000,000.00 purchase tax.
Buy a $100,000.00 diamond necklace for the princess's coming out present,
pay $10,000.00 purchase tax.

Pay $6,000.00 for a designer suit, pay $600.00 purchase tax.
Pay $600.00 for a decent working suit, pay $60.00 purchase tax.
Pay sixty bucks for a passable suit at the Salvation Army thrift shop, pay
ZERO tax; grocery store food, medicine and medical supplies, and pre-owned
items would be exempt. (We might need a little discussion about used cars
and used houses.)

And this should appease the "tax the rich" crowd - if somebody spends
$500,000,000.00 on stock certificates, commodities futures, bonds, or
etc. on Wall Street, he pays $50,000,000.00 purchase tax. :-

But, of course, the fat cats (of both wings) will fight it tooth and nail,
because they wouldn't be able to evade it like they do now with the income
tax. When you write the boat store guy your check for $350,000.00 for the
custom Cigarette, it's a little hard to hide it; he collects the $35,000.00
purchase tax at the Point of Sale. :-

And it would encourage saving on the part of those of us who don't need much
stuff. :-)

Cheers!
Richard the Dreaded Libertarian

Perhaps you haven't noticed that there are a few states left that do not
have a state income tax, only a sales tax. I for one favor a flat tax as
the only fair option. There is no excuse for taking a higher percentage
tax from those who are better off, someone making $10k and someone
making $10m should be paying the same percentage tax.