Please forgive my lack of knowledge on the tax issue, but it has interested me more and more of late.
In your opinions and experience, what is the possibility of the elimination of all income taxes for citizens and have all government taxes be realized through sales or usage tax?
EVERYONE, regardless of socioeconomic status, must buy products and services. This way, EVERYONE pays something, no filing of personal income taxes, and greatly reduces the size of the IRS. No one who doesn’t work should get a tax refund but that happens every year.
I firmly believe you should keep everything you earn on your paycheck and YOU should decide what comes out of it.
I am 100% behind Cain. I like his boldness and the fact that he has a plan. I get it but I do agree there are some questions that need to be answered.
I also understand that he needs Congress to buy in. It might not happen but it gets the conversation started and a world with drastically lower corporate taxes, no capital gains taxes and significantly lower costs of compliance is a good thing.
What we can’t afford is more of the same. The social engineering through the tax code has to go. I’m not in love with the “empowerment zones” concept but there are areas that desperately need revitalizing, particularly in a post-Zero world and they aren’t all minority areas.