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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Joe NYC who wrote (153405)	10/15/2002 6:09:40 PM
From: i-node	Read Replies (2) \| Respond to of 1585337

But the exceptions would kill the whole idea. I don't believe it does. The worst part of NST for me is the fact that there ARE people who legitimately don't need to be paying taxes. You take a family of four making $23,000, everything they spend is for essentials. I have no problem excluding them from having to pay taxes. The advantages of NST are numerous, even with some deductions. For me, a critical element is the fact that we reduce the number of taxpayers to 1% of the current number, and eliminate ten thousand pages of tax code and regulations, in favor of a booklet of 100 pages or less. You eliminate the IRS and replace it with a smaller, modernized tax collection agency. The State of Texas' sales tax collection mechanism would provide an excellent guide; under Bob Bullock it was the best in the nation. The surge in productivity that would result from eliminating the need to track data and report forms 1099, W2/W3, Forms 1040, 1041, 1065, and 1120/1120-S -- abolished. This is ONE BILLION pieces of paper the IRS processes each year, and that businesses and individuals submit every year. It is mind-boggling the savings that would occur if the NST were adopted. It would start with say 15%, exclude medicine, you jump to 18, you exclude food, you jump to 23, exclude utilities (which are the most heavily taxed item already), you jump to 25, exclude rent, you jump to 35%. These are just ballpark figures. Well, from my point of view, you have to keep it to a minimum. The bill that was being promoted a year or so ago provide for zero exclusions; I just can't envision such a bill ever getting passed into law. With some deductions, if someone would really get behind it, it could happen one day...