- Banned
- #1
https://www.foxnews.com/politics/st...eplace-the-income-tax-with-national-sales-tax
Stephen Moore’s Big Idea: Replace federal income tax with national sales tax
Stephen Moore, a member of President Trump’s economic recovery task force and an economist at FreedomWorks, has a bold idea for how to reinvigorate the economy: abolish the federal income tax, and replace it with a national sales tax.
On the face of it, it may seem like a radical notion especially since essentially all Americans nowadays have grown up having a chunk of their income pulled out by the IRS every year. But Moore notes that the income tax is a relatively new invention in the U.S. -- having only been introduced in the early 20th century.
On the state level, having a sales tax and no income tax is hardly novel, with a number of states having exactly this set-up. But doing so nationally would mark a radical upheaval of the current tax system, and at a time when the U.S. is spending trillions of dollars on stimulus -- although Moore maintains it could raise more revenue than the current system.
Whether such an idea would find bipartisan support is uncertain -- presumptive Democratic nominee Joe Biden has called for increasing income taxes on high earners -- but Moore believes that, at a time when the economy needs stimulating, his plan would be “rocket fuel.”
Genius idea, on many fronts.
1. EVERYONE pays fair share, no questions asked. ONE percentage of EVERY income group. A homeless stewbum buys a bottle of cheap hooch for $3.00, he pays 30 cents in taxes. A doctor buys a $200,000 Mercedes S Class sedan, he pays $20,000. Poor, 30 cents. Rich $20,000. See the difference.
2. Jobs would FLOW like a river. Companies from overseas would FLOOD our shores with factories, not having to worry about the tax code? Hell, we'd NEED to give amnesty even to MS13 animals, just to have enough workers for the high paying jobs.
3. Revenues would SOAR, since they would be indexed to the economy, rather than Congress's power to use the tax code to buy favors.
Stephen Moore’s Big Idea: Replace federal income tax with national sales tax
Stephen Moore, a member of President Trump’s economic recovery task force and an economist at FreedomWorks, has a bold idea for how to reinvigorate the economy: abolish the federal income tax, and replace it with a national sales tax.
On the face of it, it may seem like a radical notion especially since essentially all Americans nowadays have grown up having a chunk of their income pulled out by the IRS every year. But Moore notes that the income tax is a relatively new invention in the U.S. -- having only been introduced in the early 20th century.
On the state level, having a sales tax and no income tax is hardly novel, with a number of states having exactly this set-up. But doing so nationally would mark a radical upheaval of the current tax system, and at a time when the U.S. is spending trillions of dollars on stimulus -- although Moore maintains it could raise more revenue than the current system.
Whether such an idea would find bipartisan support is uncertain -- presumptive Democratic nominee Joe Biden has called for increasing income taxes on high earners -- but Moore believes that, at a time when the economy needs stimulating, his plan would be “rocket fuel.”
Genius idea, on many fronts.
1. EVERYONE pays fair share, no questions asked. ONE percentage of EVERY income group. A homeless stewbum buys a bottle of cheap hooch for $3.00, he pays 30 cents in taxes. A doctor buys a $200,000 Mercedes S Class sedan, he pays $20,000. Poor, 30 cents. Rich $20,000. See the difference.
2. Jobs would FLOW like a river. Companies from overseas would FLOOD our shores with factories, not having to worry about the tax code? Hell, we'd NEED to give amnesty even to MS13 animals, just to have enough workers for the high paying jobs.
3. Revenues would SOAR, since they would be indexed to the economy, rather than Congress's power to use the tax code to buy favors.
