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Politics : PRESIDENT GEORGE W. BUSH
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To: TideGlider who wrote (516869)12/30/2003 12:01:02 PM
From: DuckTapeSunroof  Read Replies (1) of 769670
 
"I would prefer a flat tax"

>>> Yes. If Slovakia can manage with a 19% flat tax, and Russia with a 13%, we could too if the elites who currently benefit from loopholes could be out-maneuvered long enough to enact the reforms.

"or better VAT or otherwise measured sales tax."

>>> Nah. The States tap sales taxes and property taxes for their revenue --- no need to give it to the Feds, they would just keep jacking it higher and higher (those 'invisible' taxes are the ones the Feds like the MOST).

>>> But our system DOES unfairly benefit consumption over savings. I suggest that the better way to solve that bias is to put debt and equity financing on a level playing field --- don't allow a tax break for interest on loans unless other forms of financing (equity issuance, retained earnings, etc.) get the exact same break.
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