Captain, you know how much I appreciate your efforts in the investment area.
Having wasted my time to get a MST (Masters degree in Taxation), and having spent about a quarter century doing battle in this arena, I tend to differ with you on the taxation issue. From my perspective, it is really simple -- tax consumption via a national sales tax. Thereby, if you spend it, you are taxed, if you save it, you are not. However, and I strongly disagree with Bush on this issue, it has to be accompanied by an absolute estate tax. In this view, if you spend it you are taxed, if you save it you are not taxed, but you cannot take it with you. As I've tried to explain to many of the depression children, there is a reason that hearses do not have luggage racks.
Just a View from the Swamp
Berney |
