Quote:
Originally Posted by Ambergirl
My vote is for the guy most likely to adopt the Fair Tax plan:
www.fairtax.org
It eliminates income tax, social security tax, medicare tax and payroll tax..and eliminates the IRS completely. And moves the country to a consumption tax only. |
i heard that guy on a radio show recently, he used to be the governor in IL i think...
now i think he says he lives in Mexico?
that would be great, maybe...the bottom line is that taxes are needed to run the country.
if you take away income tax and instead tax consumption, wouldnt that cut into consumerism which drives the US economy?
it is similar to Obama's plan to allow people to take out $10-15k from the 401k retirement accounts without taxation or normal penalties.
Most 401k plans are invested in the stock market, each person withdraw $10k and what effect is that going have on the stock market? Doesnt seem well thought through.