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

To: RetiredNow who wrote (222276)	3/5/2005 11:28:02 PM
From: combjelly	Read Replies (1) \| Respond to of 1575780

"If a poor person pays less under a consumption tax" But that would be unlikely, don't you think? With deductions, the first $20k or so of income isn't taxed. For minimum wagers, that pretty much cover a couple, working. Now a consumption tax to replace the income tax is probably going to come in at 20% +/- a little. By the time that the effective tax rate reaches 20%, I don't think you can define those individuals as "poor". But a consumption tax would touch everyone who spends all of their income in a given year.