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Politics : High Tolerance Plasticity
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To: 1tank who wrote (21035)8/2/2004 7:47:08 PM
From: kodiak_bull  Read Replies (1) of 23153
 
One of the main problems with a real VAT (the 5% flat tax probably wouldn't work, or a 10% flat tax, because we've got a huge class of people who pay no income taxes at all anyway) is that it is politically untasty. It would mean the end to mortgage deductions (sacred) and allow so many of the filthy wealthy to get out without paying much tax at all. It's very hard to tell people in the new system a working family of 4 will pay $10,000 a year in taxes, while a family with twice the income will probably only pay $12,000 in taxes, and a multimillionaire would only pay maybe $40K or so. (Of course, these are income taxes, property taxes would still skew toward the rich).

Kb
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