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

[phyrra.livejournal.com]

Since I'm still in Memphis, TN, I can attest that the sales tax here is 9.25% (more than when we were living in California) and yes it is on food and just about everything. It suuuuuucks.

[dwivian]

::notes that we have a 6% income tax + 5+%Sales tax in GA::

Oh, hush. :)

[phyrra.livejournal.com]

Florida has no state income tax and about a 7% sales tax that varies a bit by county from what i understand.

:P

[terminalwriter.livejournal.com]

Lessee, in NC we 6% - 8% income tax and 7% sales tax on non-food, and then 2% on food.

I'll take your 9.25% any day of the week.