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Politics : Right Wing Extremist Thread
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To: Father Terrence who wrote (13286)7/30/2001 12:40:33 PM
From: TimF  Read Replies (1) of 59480
 
Since it is a consumer, instead of a producer, tax, the underground economy (approaching between $600 billion to %1 trillion a year, depending on who is estimating it) would be tapped into. Right now it escapes federal and state taxation, except things like excise taxes and sales taxes.

Right now the underground economy pays no taxes on its income. Under a NST the undgeround economy would pay no taxes on its sales. You would capture some of this money when criminals make legitimate purchases but there would still be no direct tax on the underground economy.

Tim
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