Consumption tax is also a form of wealth tax. I am pretty much living off my after-income-tax savings for now, so why should I have to pay again when I spend it? OTOH I hate the IRS and think it should be abolished.
http://www.ronpaul2012.com/the-issues/taxes/ As President, Ron Paul will support a Liberty Amendment to the Constitution to abolish the income and death taxes. And he will be proud to be the one who finally turns off the lights at the IRS for good. Capital gains taxes, which punish you for success (and interfere with your efforts to hedge against inflation by purchasing gold and silver coins), should also be immediately repealed.
abolishing the tax system would essentially mean revolution. In the case of that situation, I'll be stockpiling guns and ammo instead of gold.
Collecting only 1% from all monetary exchange solves our revenue problems. Getting the govt to operate within a budget is another story.
Por qué ? I don't see it. Millions of 'mericuns starting a revolution becuase the Income Tax has been abolished. The IRS is no more. That would lead to a revolution? Why?
Ron Paul is full of details on how to cut taxes. He is strikingly lacking in details on how to cut spending. "Eliminate waste in defense budget" is not a plan. It's not even a prayer. It's a vague, untestable suggestion that allows him to do nothing and still declare success. We've already seen that movie - it ends badly.
Before the Great Depression in the 1930's, tax rate on the rich was continuously lowered in the 10 years before. Just like the last 10 years. Predictive? During the Great Depression the tax rate was more than doubled. Right now with the Bush tax cuts the tax rate stands at 30+%. I think it will rise to 60% in only 10 years.