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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (187911)	6/1/2006 4:14:49 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 281500

I personally think income taxes should be no more than 10% and corporate taxes should be zero. Strangely enough, I agree with you. Corporate taxes are merely passed on to the consumer, thus a double taxation exists. It's actually triple taxed, if one considers that they paid an income tax on the funds they later use to purchase an item (which is more expensive than it should be due to the added corporate tax cost). I've often wondered what would happen if we had a flat tax, or even a 1% federal sales tax on all sales transactions, eliminating the income tax completely. The Federal tax code is an INCREDIBLE economic burden, IMO. So much money is wasted in hiring accountants to figure out what we owe to Uncle Sam each year. A flat tax would free up a massive quantity of capital that is currently expended in trying to abide by the confusing tax system. Hawk