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Pastimes : Let's Talk About Our Feelings!!! -- Ignore unavailable to you. Want to Upgrade?

To: Jacques Chitte who wrote (48149)	8/1/1999 12:24:00 PM
From: Father Terrence	Read Replies (1) \| Respond to of 108807

Payroll and taxes such as capital gains, etc. would be eliminated. Don't hold your breath for excise taxes. As the Africans say: "You eat an elephant one bite at a time." The National Sales Tax to eliminate the IRS would be the first "bite", albeit a BIG one!!

To: Jacques Chitte who wrote (48149)	8/1/1999 12:37:00 PM
From: jbe	Read Replies (1) \| Respond to of 108807

Wouldn't you know it! Get a bunch of guys together in a room, and what do they talk about? TAXES! I suppose the next thing will be FOOTBALL. <sigh> ;o) (That was a wink, in case you didn't notice.)

To: Jacques Chitte who wrote (48149)	8/1/1999 2:12:00 PM
From: Achilles	Read Replies (1) \| Respond to of 108807

Well, according to the Cato Institute (http://www.cato.org/pubs/pas/pa-272.html), which advocates the plan, in order to collect enough to replace all taxes, including payroll taxes, it would take a tax of 23%: "We have calculated the rate of sales tax required to abolish the employer and employee shares of the 15.3 percent Medicare and Social Security payroll tax in addition to the income tax. We find that the rate required in 1995 for that alternative tax plan would be 23 percent (tax inclusive)." Note, however, 'tax inclusive' means that an item costing 77 dollars will produce tax of 100 dollars. According to the way state sales taxes are calculated now (i.e., tax exclusive), the National Sales Tax would be about 29 or 30%. (The Cato Institute is a right wing think-tank that supports this plan: I would think it likely that this is probably therefore a best, or near best, case scenario.)