Clean Slate Time

Discussion in 'Politics, Religion, Social Issues' started by Huntn, Dec 3, 2010.

  1. Huntn macrumors G5

    Huntn

    Joined:
    May 5, 2008
    Location:
    The Misty Mountains
    #1
    Anyone read this all ready? This Newsweek Article Clean Slate Time on a proposal to fix our budget problems. This proposed plan cuts out all deductions and exemption and all taxes are collected through with holdings. Good reading. Too good to be true?

     
  2. KingYaba, Dec 3, 2010
    Last edited: Dec 3, 2010

    KingYaba macrumors 68040

    KingYaba

    Joined:
    Aug 7, 2005
    Location:
    Up the irons
    #2
    Why not a flat tax?

    12% :eek: Ah man, Texas has an 8.25% sales tax. Add 12% and that will hurt auto sales to say the least. It would be interesting to see how much it would really collect at the end of the day. It certainly will drive consumer demand down which will lead to more unemployment.. I highly doubt such a tax will perform as well as he thinks.

    Produced and sold. Yes, those are some key words. That definitely means prices will go up on everything. And of course knowing this government they'll hand out exemptions to their buddies in industry...

    If you want people to save and invest, why not start by reducing capital gains? They're pinned to go up in 2011 after all... and what of tax-free savings accounts? Let's start with those.

    Oh wonderful. We leave the rate up to the whim of congress.

    12% VAT will make it cost more to do business in the USA. That will raise prices from apples to trucks. Yes, the government will raise revenue but at the cost of shipping more manufacturing jobs overseas. Companies don't just sit and eat costs they pass that to the consumer if not ship jobs to low-wage countries. So in the end I'll get hit with higher prices on the things I buy while paying higher sales taxes.
     
  3. Sydde macrumors 68020

    Sydde

    Joined:
    Aug 17, 2009
    #3
    Which might be just the bitter-tasting, healthy tonic we need. Our disposable industrial consumerist economy is, IMHO, killing us in many ways, it may be time to explore the possibility of more stable, sustainable, less toxic alternatives.
     
  4. KingYaba macrumors 68040

    KingYaba

    Joined:
    Aug 7, 2005
    Location:
    Up the irons
    #4
    Such as? :confused:
     

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