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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (110886)4/22/2010 4:00:34 PM
From: Hawkmoon8 Recommendations  Read Replies (3) of 116555
 
I wouldn't be so opposed to a VAT if the income tax was repealed and it omitted food items. A consumption tax would reward savers and avoid the regressive nature of sales taxes that impact low income households on their food budget.

I'm also in favor of a flat tax as an alternative as well.

The income tax as originally created as a war tax to finance WWI and was never supposed to be permanent.

hawk
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