DSK wrote in message ...
"John Gaquin" wrote...
I disagree here, Doc. I prefer to see a national consumption tax of about
10%, coupled with total repeal of any income tax.


That doesn't seem like it's going to bring in anywhere near the same
revenue. Unless you are also going to chop off at least half of the
current gov't expenditures, this is just a pie-in-the-sky dream.

One problem I have with having the Feds put on a consumption tax or an
ad-valorum tax or whatever is that it is a serious brake on the economy.
The web of VAT is choking the European economies, we should observe and
learn and do better.



NOYB wrote:
.... I was promoting a flat tax that
phases out at a certain income level.

Ahem... that is a progressive tax, you darn socialist.

Depends on what he meant by "phases out at a certain income level".

I have always thought that a flat tax should start above the poverty
line. I don't know off the top of my head what annual income is the
official threshold for poverty (realistically, it isn't the same
everywhere in the country), but lets just say that everyone can make
$25,000 a year tax free. You pay the flat tax rate on money you make
after that.

It works out to look like progressive tax, but it doesn't have the
bracketing that is used that's used for politcal purposes. Everyone
pays the same rate after $25K.

One thing that has to go with a flat tax system is deductions. That
would include home mortgage interest and (to stay on topic) boat loan
interest deductions. I don't have a problem with that. But many
charities and other industries that leverage tax deductions would
fight it --- even though it would probably increase the treasury by
huge somes.


Nobby, can you post *anything* you believe in that doesn't reek of
hypocrisy?

DSK