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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: energyplay who wrote (9689)	9/26/2006 11:48:26 AM
From: KyrosL	Read Replies (1) \| Respond to of 219578

If you exclude basic necessities from the consumption tax, eliminate low income taxes by, say, tripling the standard deduction, and boost the earned income credit, you eliminate most of the regressive aspects of a high consumption tax. Note that I am not saying replace the income tax with a consumption tax. We should keep the income tax but effectively only apply it to high incomes by, for example, boosting the standard deduction while keeping current marginal rates.