FOXNews.com - Politics - Tax Panel Considers Mixing Income, Consumption Taxes
FOXNews.com - Politics - Tax Panel Considers Mixing Income, Consumption Taxes
Oh Joy. They are considering a consumption tax, not to replace the income tax, but to supplement it.
Two things wrong with this. First of all they are NOT addressing the real culprit, the spending. Secondly they are not replacing one bad tax with a better (economically speaking) tax, they are adding it to the code. This is not simplifying the code, this is making it more complex, adding places for them to muddle with the code to pass special favors on to specific groups. If they want to junk the income tax (correctly stated all the forms of income tax we endure) with a consumption tax, fine. Do that. Junk income tax(es) and keep the consumption tax plainly visible, flat across product and services and ADDRESS SPENDING. Until spending is addressed the tax will be overly confiscatory.
Oh Joy. They are considering a consumption tax, not to replace the income tax, but to supplement it.
Two things wrong with this. First of all they are NOT addressing the real culprit, the spending. Secondly they are not replacing one bad tax with a better (economically speaking) tax, they are adding it to the code. This is not simplifying the code, this is making it more complex, adding places for them to muddle with the code to pass special favors on to specific groups. If they want to junk the income tax (correctly stated all the forms of income tax we endure) with a consumption tax, fine. Do that. Junk income tax(es) and keep the consumption tax plainly visible, flat across product and services and ADDRESS SPENDING. Until spending is addressed the tax will be overly confiscatory.
posted by Justin at 4:16 PM
2 Comments:
Woo! An income tax and a VAT, er, consumption tax! We can be just like Europe.
And I thought it was the John/John team that wanted to turn us all into euroweanies.
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