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Article #455Re: National Sales Tax - An Alternative?
From: Jim Olsen
Date: Mon, 11 Dec 1995 00:00
Date: Mon, 11 Dec 1995 00:00
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(Discussing the effects of replacing the income tax with a consumption tax.)
>Those wth incomes over $200,000 save 40% of their income, which means
>40% percent of their now-taxed income would become untaxed.
There are two problems with that statement:
1. a considerable portion of that income is already 'untaxed', through
the labyrinthine provisions of the Internal Revenue Code, and the
ingenuity of the tax lawyers. A consumption tax would be far
simpler, and less easy to fill with loopholes to benefit the rich.
2. The income would not actually be 'untaxed', but would rather have
its taxation deferred until the savings were consumed. All savings
are eventually consumed, so all imcome would eventually be taxed.
--
Jim Olsen -- jolsen@mod.com
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X-Google-Language: ENGLISH,ASCII-7-bit X-Google-Thread: 104eff,8c62cfd13b101be6 X-Google-Attributes: gid104eff,public X-Google-Thread: 10dda6,8c62cfd13b101be6 X-Google-Attributes: gid10dda6,public X-Google-Thread: fa7f5,8c62cfd13b101be6 X-Google-Attributes: gidfa7f5,public X-Google-Thread: 105dfd,8c62cfd13b101be6 X-Google-Attributes: gid105dfd,public X-Google-Thread: 10d662,fe496bb546a1da4c X-Google-Attributes: gid10d662,public X-Google-Thread: 105ecf,8c62cfd13b101be6 X-Google-Attributes: gid105ecf,public X-Google-Thread: 104158,8c62cfd13b101be6 X-Google-Attributes: gid104158,public X-Google-Thread: ffe14,8c62cfd13b101be6 X-Google-Attributes: gidffe14,public From: jolsen@mod.com (Jim Olsen) Subject: Re: National Sales Tax - An Alternative? Date: 1995/12/11 Message-ID: <4aipam$ui5@modular.in.mod.com> X-Deja-AN: 121558485 references: <490s4o$eku@nexus.coast.net> <4acb10$n3f@s3.iway.fr> <4ad0th$19r5@msunews.cl.msu.edu> <ca7cb$b1721.b3@news.sisna.com> organization: none newsgroups: mi.misc,alt.politics.usa.misc,alt.activism,talk.politics.misc,ca.politics,dc.politics,ne.politics,nj.politics,pa.politics,triangle.politics,misc.taxes,ny.politics