Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (181759)	6/26/2004 1:24:40 AM
From: Joe NYC	Read Replies (3) of 1576593

Ted, So, Joe, what do you think is a fair percentage for the rich to pay in taxes? Income taxes? My latest thinking is that all taxes should be zero, except consumption taxes, such as VATs. Then, I would have a payment (sort of a "refund" even if it exceeds the amount paid it) for each child (US citizen or permanent resident). This would be for welfare kids as well as kids of regular middle class families. In addition to VAT, there would have to be payroll taxes. They seem like an unavoidable, if we are to continue to have federal retirement system. I didn't think this entirely through, so there may be holes in it... Basically, the idea is to have no taxes on any productive endevors, only on consumption. A side benefit is that this would have a huge (positive) impact on our trade balance, and a side benefit that the US would be a more attractive place to produce goods and services, compare to our international competitors. Joe

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