First off I think that this idea is one of the boldest, most ingenious plans ever created. I mean it is right up there with the wheel. It is so different from
what we all have ingrained in our heads, and it makes sense that people would be scared at such a radical change to their lives. Forget the number crunching
for a moment and think of the personal aspects of this change. The plan calls for taxation of every-body's 401k's, IRA's, and any other type of tax
shelters we currently enjoy. It also calls for the banishment of tax deductions such as mortgage interest and charitable contributions as we know them. For the
general population, who would ultimately decide on such a plan; these two negative points could easily be used by the wolves of the status quot to sway the
sheep back into the barn. All that needs to be said about any given subject is that " No, That can not work!" by one politician in the right context
at the right time; and before you know it a great idea, like this transaction tax, will fly away like sagebrush in a John Ford film.
Myself, I see this tax plan as being the greatest thing America could ever do. There are so many angles of this tax plan that no one has even tapped into yet. It is a concept where average people get to keep nearly everything they earn and are only taxed on the transactions they make. This idea is so foreign to me that I can't even contemplate it. But when one considers that even people of nefarious means of making a living will inherently pay their fair share, for it would be nearly impossible to evade paying this tax, one could see the benefits as plain as day. And the amount spent on their exorbitant life style would need to be explained to a more focused, and streamlined IRS. One could not spend two or three, or ten or twenty million dollars per year and not have a job or other legal means of obtaining said money. This plan could have an effect of helping to stop organized crime, and drug dealing. There are many other avenues that cross this boulevard of thinking. I hope this will be a plan for the future of America and not just some idea that gets relegated to the back pages of "we thought about it and decided it wouldn't work, so we never even tried" magazine.
Myself, I see this tax plan as being the greatest thing America could ever do. There are so many angles of this tax plan that no one has even tapped into yet. It is a concept where average people get to keep nearly everything they earn and are only taxed on the transactions they make. This idea is so foreign to me that I can't even contemplate it. But when one considers that even people of nefarious means of making a living will inherently pay their fair share, for it would be nearly impossible to evade paying this tax, one could see the benefits as plain as day. And the amount spent on their exorbitant life style would need to be explained to a more focused, and streamlined IRS. One could not spend two or three, or ten or twenty million dollars per year and not have a job or other legal means of obtaining said money. This plan could have an effect of helping to stop organized crime, and drug dealing. There are many other avenues that cross this boulevard of thinking. I hope this will be a plan for the future of America and not just some idea that gets relegated to the back pages of "we thought about it and decided it wouldn't work, so we never even tried" magazine.
If my personal tax amount is decreased, then in order for
the plan to be revenue neutral for the government the money has to come from somewhere else. That's just basic algebra.
