[extropy-chat] Income Tax

[Neil H.]

On 7/28/05, The Avantguardian <avantguardian2020 at yahoo.com> wrote:
>      IMHO, I believe that the IRS should be abolsihed
> and a nationwide sales tax should be implemented on
> everything except for store bought food. I don't know
> what percentage would be optimal, but it would solve a
> number of problems. First, it would eliminate the
> excuses of the rich that they bear an unfair tax
> burden. Second, while the rich may still try to hide
> their money, the moment they tried to spend it, the
> government would gets its due. It would increase
> savings and reduce consumption across the board. It
> would eliminate tons of stupid tax laws and the
> expensive tax accountants and lawyers needed to keep
> abreast of them. It would equalize taxes for
> corporations and individuals. It would eliminate tax
> incentives for monopolistic business practices. It
> would be just plain more efficient. Any thoughts?

Are you already familiar with the FairTax proposal?

http://en.wikipedia.org/wiki/FairTax
http://www.fairtax.org/
http://www.fairtaxvolunteer.org/smart/sketch.html

A critique: http://www.jpfo.org/fairtax.htm