Oh good heavens help us...
Aug. 11th, 2004 02:25 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
kellinatorThe 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![[livejournal.com profile]](https://www.dreamwidth.org/img/external/lj-userinfo.gif)
resipsaloquitor:
http://money.cnn.com/2004/08/11/news/economy/election_tax/index.htm?cnn=yes
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
no subject
Date: 2004-08-11 02:15 pm (UTC)If you tax purchases, you punish them for buying.
Either way, they get punished.
Me, personally, I'd rather have to THINK about my consumption issues, and realize that savings are tax-free monies gaining lots of additional value, than to be nibbled by those ducks every paycycle just for trying to keep my family from starving.