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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: joefromspringfield who wrote (58564)	10/16/2011 2:14:58 PM
From: John	Respond to of 103300

Not to attack Cain's plan, because I haven't really studied it, but I dislike any effort to tax personal income and business income, no matter how well intended. To me, that's just a very bad idea. Taxes on personal income, labor, business, capital gains, and property must end. The only tax in the United States should be a modest consumption tax. If you buy something, you pay a tax, otherwise, no taxes, period. Of course, I think that food, water, clothing, and energy should be excluded from such a consumption tax. Otherwise, every transaction should have a modest consumption tax attached to it. A consumption tax rewards prudent savers who do not spend frivolously on everything under the sun, instead choosing to save for a rainy day or a better future without the government robbing us at gunpoint every step of the way. It makes it easy on businesses too. The only tax calculations required would be how many sales were not food, water, clothing, or energy. No deductions, etc. A fixed percentage of that would go to the government. I don't know what the amount should be, but I would imagine no more than 15 percent, especially if the government's size is reduced as it should be. It damned sure should not take trillions of dollars each year to run the government. Tens of billions, maybe, but definitely not trillions. -ng- As for individuals, no taxes would be paid at all, and filing a return with the IRS would be a thing of the past. The tax costs would be figured into the higher consumption fees. For example, a new radio may cost 50 dollars today. Under the consumption tax, one may expect to pay 58 dollars. Of course, all of the companies that pay zero in taxes today, would bemoan a consumption tax and ruin any politician who supported it.