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Politics : Bill Clinton Scandal - SANITY CHECK
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To: Peter O'Brien who wrote (5079)9/24/1998 9:02:00 AM
From: j_b  Read Replies (1) of 67261
 
<<double taxation" of people who had already accumulated savings>>

People are subject to double taxation every day. As an example, when you pay sales tax on that new car, you are using money that was already taxed by both the federal and state governments. Under a consumption tax, you would actually have less double taxation, not more. Sales tax is, of course, a consumption tax, so the main difference between the current and proposed systems would be that instead of paying the double taxation in the form of federal and state income taxes and state consumption taxes, you would be paying both a state and federal consumption tax.
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