Re: Income tax repealed....maybe...

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Article #198

#198

From: Larry Anderson
Date: Sat, 22 Jun 1996 00:00

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atticus@mindspring.com (Andy Walton) wrote:

>Many flat tax proposals -- including Forbes' -- exclude capital gains and
>dividend income. Hence, Steve Forbes and Ross Perot would pay no tax.
>Taxes would be assessed only on those who earn a wage, also known as those
>who work for a living.

>In your example above, suppose you make $100,000. Your employer gives you
>stock options -- you decide that you can live on $50,000 a year, so you
>take $50,000 worth of stock. Your company has a good year, and at the end
>of the year, your stock is worth $200,000. That $150,000 in profit doesn't
>count. Your employees who make $15,000 a year, do foolish things with
>their money like feeding their holdren and paying rent, and use the same
>amount (if they're lucky) of government services like police protection
>and highway paving are subsidizing you.


How about this: A consumption tax (National Sales Tax) would be a
fairer solution. We could exempt food, utilities, housing, and
prescription drugs.


Boom Shaka Laka Laka Boom Shaka Laka

Larry Anderson (larryjoe@ix.netcom.com)

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From: larryjoe@ix.netcom.com (Larry Anderson)
Subject: Re: Income tax repealed....maybe...
Date: 1996/06/22
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