Oh good heavens help us...

[kellinator]

The latest idea from Herr Shrub: Let's get rid of the income tax and replace it with a national sales tax.

This is the worst idea I've heard from the Idiot-in-Chief since... oh, who's counting?

I don't know a lot about economics, but I come from Tennessee, home of one of the highest sales taxes in the nation (including on food, and yes I do mean groceries). And sales taxes are definitely regressive.

Do the math. Say a person needs x amount of food to survive, taxed at 8%. For Bill Gates that tax is nothing; for the average middle-class American it's an 8% jump in the food bill. Talk about your cost of living increase...

I guess this is his way of saying he doesn't think he's put enough of the tax burden on the middle and lower class.

And if this post pisses you off, I don't give a fuck.

EDIT: Excellent article from resipsaloquitor:
http://money.cnn.com/2004/08/11/news/economy/election_tax/index.htm?cnn=yes

Comments

[libidoergosum.livejournal.com]

if applied correctly, the NST (National Sales Tax) would be a good idea. It would be a good idea if things like food and fuel were not taxed. But on non-essential items, I think it would be awesome. It would tax income that otherwise would not be taxable such as tourism, drug money (drug dealers/consumers are consumers of legitimate goods as well) as well as high-dollar items that the rich consume (that would have escaped taxation based on the "capitol gains" tax cut. The idea is reasonable, but in his hands it is not.