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To: Pearls Before Swine
But, under a consumption based tax system, income -- imputed or not -- doesn't matter.

That doesn't agree with many of the studies that generated the NRST effort. Imputed income for living in your house becomes a tax on "imputed consumption" of the rental service you provide to yourself. Living on your own property is depriving the government of tax revenues it could collect if you were renting it to someone else. NRST contains a fictitious source of revenue based on the government paying NRST. This is fictitious because the government's source of revenue IS NRST. Taxing a homeowner is not a fictitious source. It is called property tax when the state and local government does it. It will be a tax on the consumption of fair market rental of your own property by the feds. Hopefully this stupid concept never sees the light of day.

47 posted on 10/12/2005 6:01:47 PM PDT by Myrddin
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To: Myrddin

Re imputed consumption: Hmmmm... I see your point. Not a good way to implement a consumption system. You pay when you buy the place, and you pay to keep it.


52 posted on 10/12/2005 7:44:03 PM PDT by Pearls Before Swine (Is /sarc really needed?)
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