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View Full Version : Bush may have a good idea!


TrailBate
March 3rd, 2005, 12:10 PM
Yes, I hate Bush. With a passion.

yet, he (and greenspan) is looking at the possibility of dropping income tax and going to an entirely consumption based tax. To me this is a good idea. But will the rich folk go for it?

Just thought I'd let all of you who think I'm totally biased against ANYTHING Bush does, that I actually agree with some stuff*. so THERE!


*until Slider proves me wrong.
truckboy
March 3rd, 2005, 12:52 PM
I don't think it will ever happen, but if it did, I think we would see (or not see, as the case may be) a huge increase in cash transactions. Can you say "Black Market"? Wonder how it would affect eBay...?
TrailBate
March 3rd, 2005, 01:08 PM
good point. Private transactions may be impossible to track.
Rych
March 3rd, 2005, 02:11 PM
good point. Private transactions may be impossible to track.


Wouldn't this type of tax be the same as a flat tax? I don't think lefties would go for this. They would want the poor to pay X in sales tax for milk, the middleclass to pay X +Y sales tax, and the Rich to pay X+Y+Z sales tax. May your national id card could denote what amount you should be taxed. See trailbait, you were right. The id cards will be abused.
TrailBate
March 3rd, 2005, 02:19 PM
good point. Private transactions may be impossible to track.


Wouldn't this type of tax be the same as a flat tax? I don't think lefties would go for this. They would want the poor to pay X in sales tax for milk, the middleclass to pay X +Y sales tax, and the Rich to pay X+Y+Z sales tax. May your national id card could denote what amount you should be taxed. See trailbait, you were right. The id cards will be abused.


ay, you just HAD to mention the ID argument again, huh?
Onto the NEW discussion, perhaps items under $20 should be non-tax along with food and clothes, then 5% for $20 to $5,000, then 6% for $5,000 to something, etc.
Ben-O
March 3rd, 2005, 11:56 PM
nyt.com has a good article about this:

http://www.nytimes.com/2005/03/04/politics/04tax.html

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