SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Mish's Global Economic Trend Analysis
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Knighty Tin who wrote (26253)3/24/2005 4:33:33 PM
From: mishedlo  Read Replies (3) of 116555
 
Le Tax: Do the French have it right?
......
Sales or income tax....or both?
So how would a value-added tax work in the United States? One proposal getting a lot of attention comes from Michael Graetz, a Yale Law School professor who was the chief tax policy adviser under Bush's father and is said to have turned down an offer to serve the same role in the current Bush administration.

Graetz's idea, in its simplest form, is to exempt all households with less than $100,000 a year from paying income taxes. Income over $100,000 would be taxed at 25 percent. To replace the revenue lost by the large exemption and lower tax rate, Graetz would institute a value-added tax on most goods and services at a rate of 10 percent to 14 percent.

I am sure with that thread title the neocons are ready to puke.
Hmmm.
How about the details?
Bush and Greenspan want to change the tax code.
Is the time right?
money.cnn.com
What say yee all?
Is this the right way to go?
I actually think this is a nice compromise.
If Bush can pull off this plan and shelter income tax below 100,000 (Mish Idea... cap at 100K permament on low end but cap raised every year adjusted for inflation on the high end) I think I am for it. Not 100% positive, but leaning that way.

I want to hear the arguments.
Is it time for something like this?

Have at it.
Mish
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News