A Future Consumption Tax to Fix Today's Economy
By ALAN B. KRUEGER
Any casual observer knows the United States faces enormous economic challenges in both the short and long run. These challenges — and the respective solutions that are being discussed — are somewhat in conflict, though. ... http://economix.blogs.nytimes.com/2009/01/12/a-future-consumption-tax-to-fix-todays-economy/
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my comment:
Consumption tax is the change we need in our tax structure. But we cannot trust DC with both that and keeping the IRS code. Why not be bold and go to FairTax House Resolution 25 and Senate Resolution 13? Get rid of the IRS totally as this arcane tax embeds all federal tax in the price of domestic product making it impossible for USA Industry to compete with imports, thus the reason we have gotten tot eh end of our fiscal rope after 30 years of jobs lost overseas due to Reagan implementing free trade policy while also implementing a flat tax plan that kept the IRS.
The current IRS tax code is regressive and to add a consumption tax on top would be devastating, as today, the poor have to pay for hidden taxes in even bread, about 22% of the cost. FairTax removes all these embedded taxes and makes all spending up to the ceiling level of the poverty wage non-taxes for every Citizen, rich or poor, via the Prebate. I agree a consumption tax is what the USA needs, but we need one that ends the lobby graft of selling over 1,200 amendments for the rich since Reagan placed in the current flat tax, which to go to another flat tax is but hitting the recycle button for this graft. Go to www.FairTax.org and find more answers and charts to what FairTax will do for you.
The greatest value of FairTax is more jobs then workers, thus a healthy economy if we can end the unconstitutional spending and controls of the Federal Government, like, stopping the Federal Reserve from maintaining an at least 5% unemployment pool of workers, thus not allowing for inflation to be caused by workers wages. That is what makes a healthy economy, one that cycles with or without such control. WAKE UP!!!
FairTax and Constitutional conduct Please!
VAT verse FairTAx http://rgeorgedunn.blogspot.com/p/vat-tax-vs-fairtax.html
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If everyone knew all there is to know, they would not do half the things they do, including myself, therefore I must foregive them, including myself.
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