Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Bill Clinton Scandal - SANITY CHECK -- Ignore unavailable to you. Want to Upgrade?

To: Peter O'Brien who wrote (5079)	9/23/1998 8:15:00 PM
From: dougjn	Read Replies (1) \| Respond to of 67261

I've never thought of that. It's an interesting idea. Wouldn't an elimination of taxation on capital gains, interest, and dividends take care of that? Doug

To: Peter O'Brien who wrote (5079)	9/24/1998 9:02:00 AM
From: j_b	Read Replies (1) \| Respond to of 67261

<<double taxation" of people who had already accumulated savings>> People are subject to double taxation every day. As an example, when you pay sales tax on that new car, you are using money that was already taxed by both the federal and state governments. Under a consumption tax, you would actually have less double taxation, not more. Sales tax is, of course, a consumption tax, so the main difference between the current and proposed systems would be that instead of paying the double taxation in the form of federal and state income taxes and state consumption taxes, you would be paying both a state and federal consumption tax.