Want to revitalize economy and make Americans richer? Kill the income tax

Detroit News ^ | 11/17/02 | Nolan Finley

[jimkress]

Intriguing, idea and Washington aren't words that often appear together in a credible sentence. But an intriguing idea is floating around Washington for reforming the way Americans pay for government.

Treasury Secretary Paul O'Neill is quietly exploring a plan to do away with the income tax, that punitive system of taxation adopted in 1913 that spawned an un-American strain of collectivism. The income tax promotes the notion that the first fruits of hard work and enterprise belong to the government, not the individual.

[Age of Reason]

You ask why risk taking should be rewarded? Because risk taking results in products beneficial to everyone. . . . Without an inducement to take risks, there would be none of these products.

How many billions do we pay cops, firemen, and servicemen for the far greater risks they take?

[jd777]

But a tax on consumption is progressive.

[jd777]

Food and energy could be excluded.

[agitator]

As usual, everybody buys into the bogus premise that taxes will go down if the system changes. Wrong. Confiscatory tax rates are a symptom. The disease is a fiat money system based on green toilet paper. So long as Congress can print all of the green toilet paper with pictures of dead presidents on it that it wants, there will be a confiscatory tax, no matter what form it takes. Wake up folks, congress doesn't need to come to you for the money it spends, it sticks your kids with the bill in the form of inflation. Changing the taxing system from one non-constitutional form to another is nothing more than re-arranging the deck chairs on the Titanic so long as we're using green toilet paper for currency.

[RipSawyer]

"The economy will not be revitalized as long as industries are being shipped out of the country hand over fist."


What, you didn't understand all those lectures about how it is better to buy cheap goods from overseas than make them here? I am sure there is no need to worry in time of war, when we have to fight China we will just buy our weapons from China, see how simple it all is?

[mrs9x]

Those risks, while there, are not going to lead to some new discovery or invention. In addition, there is a larger supply of people willing and ABLE to do fire work and police work than to run large corporations - all you have to look at is the fact that most fire departments are volunteer, and yet they usually have enough people to do it. For cops, there does not appear to be a shortage at the wages offered, so they are probably placed right in the market.

For CEOs and so forth, there is a lot of training involved. You have to either have an MBA or have a JD degree, and you have to have lots of experience and good business judgment. Risks that benefit everyone - such as producing new products or creating new inventions, benefit everyone, unlike putting out a fire which does not create anything new and really only helps those immediately affected.

Nice try though with the firefighter analogy. I just fail to see why you are so bitter against the capitalist market. There is nothing rigged here. You make it sound like some sort of conspiracy. Go out, get educated, and maybe you too can tap into the wealth.

[weikel]

Bump

[kennyboy509]

Who is putting these thoughts into your head?

A rising tide floats ALL boats.

The tax and spend demonrats are chasing these businesses out because it is cheaper in other countries.

If the work was performed here, Americans would be making the wages instead of forieners.

Yes I know the wages would be low but so would prices.

Didn't you ever take basic economics!?

[Age of Reason]

Go out, get educated, and maybe you too can tap into the wealth.

What is wealth and why is it desirable?

[AdamSelene235]

The economy will not be revitalized as long as industries are being shipped out of the country hand over fist.

The issues are related. Russia has a 13% flat tax these days. China's fiscal burden of government is 2x lower than the United States (and they are pushing for flat tax reform).

[Tennessean4Bush]

No way goods will be cheaper if you institute both a value added tax AND a sales tax. This is a ridiculous proposal and will never fly.

[RLK]

The issues are related......

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About as closely related as you and I are through Adam and Eve.

[RLK]

Didn't you ever take basic economics!?

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Yes, but unlike some people I lerned more than just empty cliches.

[ALS]

I see many here are confused about just what a Fair Tax really is.

[Taxman]

We have found a better way to raise funds for the legitimate functions of government.

It will behoove each of you on this thread who doubt the ability of the NRST to improve the lot of all Americans to visit http://www.salestax.org and http://www.votr.org.

If you have any questions about the National Retail Sales Tax after you digest the information on those web sites, please email me at fdavis@salestax.org or call me, toll free, at 1-877-937-6778, day or night.

[Taxman]

Yup. The NRST is becoming a mainstream idea.

We need you help to make it happen, though.

[AdamSelene235]

About as closely related as you and I are through Adam and Eve.

So you don't think over-regulation and a high fiscal burden of government distort the price of labor and goods?

[Taxman]

Industry and jobs will return to America just as soon as we replace the income tax with a National Retail Sales Tax.

It is an old poll, but the Princeton Economic Institute surveyed some Japanese firms in the 1990's and asked what would be their reaction to a US NRST.

The response? 80% said they would locate manufacturing facilities in the US and 20% would move their headquarters to the US.

The NRST will cause the US to become the economic sponge of the world.

[Taxman]

While it is true that the Liberal/Socialist/Marxist Bastard crowd will demogogue the NRST as "Unfair to the poor," there are provisions which will be put into the legislation to render that argument moot.

The final version of the legislation will include, for example, a clause which untaxes essential food, clothing and housing (the necessities of life) for all family units.

And, offering a tax plan that says to each and every American the opportunity to "work, earn, save and invest as much as you want to FRee of the heavy hand of government" rings a hellofalot of chimes.

The American people deserve a 21st Century tax plan -- the failed 19th Century Marxist Progressive Income Tax is not it!

The National Retail Sales Tax is!

[Taxman]

Then read the legislation -- H.R. 2525 and H.R. 2717 are short, to the point, and easy to read.

Go to http://thomas.loc.gov and read 'em both.

Then let me know what you think.