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Politics : PRESIDENT GEORGE W. BUSH
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To: Bill who wrote (24425)7/13/2000 2:40:47 PM
From: Neocon  Read Replies (1) of 769667
 
Let me jump the gun and raise a few other problems:

An NST would discourage the purchase of luxury items and frivolities. Thus, it might hurt the economy, which depends a lot on the sale of inessentials;
Although an NST would encourage savings, if there is not enough business activity going on to prompt new investment, the savings will sit idle;
Would it be revenue neutral? With the endemic concern with the federal debt, only a fair guarantee of comparable receipts would make it passable;
Would it be "regressive", in the sense of unduly penalizing the purchases of essentials, and having a harmful impact on the budgets of those least able to cope?;
If there are exemptions and rebates, aren't we going down the road to a large administrative apparatus?;
Isn't it inevitable that someone will turn it into a VAT, and spoil the simplicity?
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