Culture Wars 101: A for Effort

In the interest of making positive use of a topic, (0.00 / 0)

There's a nice summary in the KOS comments on the APT:

Remove all existing taxes (except possibly sin taxes on alcohol, tobacco and gas), and replace them with a 1.2% tax on (0.6% on each side) every electronic payment transaction, along with a slightly higher tax on cash withdrawals to account for cash only transactions.
While this does not look progressive, it actually is; the poor will typically only pay it on their wage once, and on their living expenses once, effectively paying a mere 2.4% income tax. Middle class will pay slightly more on, say, mortgage and its repayment, and on savings.
But the kicker is that the investor class will pay for most of it. Shuffling money around will rack in the cash for the treasury. Good old industrial capitalism will also benefit, as productive business will only pay this meager fee twice on loans (getting it and repaying it), once on income and once on expenses.
While this might look to libertardians as an obstacle to "investment," in fact it will be quite the opposite. The tremendous simplification of the tax structure will make doing actual business (as opposed to toying with derivatives and credit default swaps) much simpler. Enforcement will be much simpler, as only the banks will have to be monitored and audited, and they already are anyway.

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by: hannah @ Tue Jan 13, 2009 at 07:02:09 AM CST

Bring it on (0.00 / 0)

I must say I am very impressed with the Provost's comments on the speaker.
 

Paula M. DiNardo
Dover NH

A Blue Hampster since 2007!

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by: pdinardo @ Tue Jan 13, 2009 at 09:31:34 AM CST

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