The IRS would have a new job then. Frankly some items are marketable on the black market and some are way more difficult. Used stuff is largely sold for cash already, that would not change. Houses, cars, etc, not too likely to go under the radar...
BO just wants to be admired like the great presidents. He's not actually going to follow in their footsteps as it were or apply their principles .
Maybe Junior Mugabe read these Lincoln quotes: "Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration." -- 12/3/1861 That would explain Junior Mugabe giving GM to the workers over creditors. Stupid! Without the creditors, where exactly does he believe capital comes from to start and fund such giant operations? "I cannot make it better known than it already is that I strongly favor colonization." -- 12/1/1862 Good to hear! America will end up a colony of China. "Public sentiment is everything. With public sentiment, nothing can fail; without it nothing can succeed." -- 8/21/1858 The Yes We Can motto was born. Give it year and we'll see where the economy is and whether Junior Mugabe is still giving hollow speeches.
This is an interesting poll. 18% Favor National Sales Tax, 68% Oppose rasmussenreports.com Rasmussenreports.com Fri May 29, 10:53 am ET To raise additional money for the government, just 18% of Americans nationwide favor a national sales tax. The latest Rasmussen Reports national telephone survey found that 68% oppose such a tax. There is more support for the concept if sales tax revenue is used to provide health insurance for all Americans. In that scenario, 40% favor a national sales tax and 49% are opposed. Democrats strongly support a national sales tax to provide universal health insurance coverage. Republicans are opposed by a three-to-one margin, and those not affiliated with either major party are opposed two-to-one. A plurality of Americans would support a national sales tax if it meant getting rid of the federal income tax: 43% favor that trade-off, but 38% are opposed. Pluralities of Republicans and unaffiliateds like the idea, while a plurality of Democrats are against it. Forty-eight percent (48%) say a national sales tax is fairer than an income tax while 26% hold the opposite view. The sales tax is viewed as fairer by 52% of Republicans, 44% of Democrats and 49% of unaffiliateds. (Want a free daily e-mail update? If it's in the news, it's in our polls). Rasmussen Reports updates are also available on Twitter. According to recent news reports, some in Washington say adoption of a national sales tax on all goods and services would lead to a reduction in income tax rates. However, Americans are skeptical that the nation's politicians would actually go through with such a trade-off. Only 20% of Americans think it's even somewhat likely that the government would actually cut income tax rates once the national sales tax was approved. Just eight percent (8%) say it's Very Likely income tax rates would come down. A Washington Post article this week said a national sales tax ranging from 10% to 25% is being discussed. In the Rasmussen Reports survey, no specific levels of taxation were mentioned. However, since the tax rate would be much higher than existing state sales taxes, it is likely that support for a national sales tax would decline as specific numbers became known. An earlier survey found that 34% were generally willing to pay higher taxes to provide health insurance for all. But there was strong opposition to taxing health insurance benefits provided by companies. Fifty percent (50%) are willing to tax alcohol products to generate revenue for health care, but there is little support for a "sin-tax" on non-diet sodas. Sixty-four percent (64%) of voters prefer a government that offers fewer services and has lower taxes. Seventy-seven percent (77%) say the bigger problem in the United States is the unwillingness of politicians to control government spending rather than Americans' unwillingness to pay higher taxes. Please sign up for the Rasmussen Reports daily e-mail update (it's free) or follow us on Twitter. Let us keep you up to date with the latest public opinion news. This national telephone survey of 1,000 Adults was conducted by Rasmussen Reports May 27-28, 2009. The margin of sampling error for the survey is +/- 3 percentage points with a 95% level of confidence (see methodology). http://news.yahoo.com/s/rasmussen/20090529/pl_rasmussen/nationalsalestax20090529/print
eliminate personal income taxes entirely. add a minimum 10% federal VAT on all goods and services on top of state taxes of ~5-10%. make up difference raising corporate taxes including foreign profits. rescind government stimulus plan. why indebt the country when new money can be created for free without inflating the dollar with additional treasury debt? usd stabilises and increases in value. multiplier on the spending side is a minimum factor of 4. on investment, minimum of 5. for every one dollar removed from the federal budget, 1 is created on the sales tax alone. 2 in corporate tax income. increase the capital gains tax across the board on both the personal and corporate side to avoid deduction loopholes. reel in all offshore trusts, hedge funds and strictly regulate repatriation of offshore profits. on the corporate side, demand for products increases proportionally to the increase in consumer and business spending from the increase in disposable income. there would be a one to two year adjustment in the national debt level while gdp adjusts to the inflation effect of such a massive stimulus, but within five years, the government would be operating a net positive surplus. and this is not including any new carbon or fuel tax increases. economy fixed. rb.
By the time Fair Tax gets implemented it won't be any different than the current system. VAT is my choice. It taxes everybody, rich, poor, illegals and criminals of all stripe.. and it's no business of the public sector how much anybody earns or what they do with it, with VAT you don't have to tell them anything....