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Politics : Formerly About Advanced Micro Devices
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To: Joe NYC who wrote (369989)2/28/2008 1:02:09 PM
From: TimF  Read Replies (1) of 1583804
 
I also like the idea of a consumption tax. Not only for the reasons you lay out but also because it would have less compliance cost/effort (at least of the average person)

The problem is the transition. (Or at least its one of the problems)

Imagine you've paid income tax on your income over the years, but have been diligent and saved a sizeable nest egg from your after tax income. Now as you begin retirement, the government shifts to a consumption based tax...
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