Quote:
|
Originally Posted by mikeyddddd
Do away with ALL income taxes. Make it up with a sales tax. That will encourage savings and investments as well as get money from the current black market and under the table cash deals when all that money gets spent.
|
The economy would crumble. Some republicans thought of that and they said it would take 30% sales tax. Ok now my local and state sales tax is already 10% so that's 40% on everything I buy. I'm not buying anything but the basics. I'm sure Wal-Mart would love just seeing all those expensive items like computers, TV etc sitting on shevles because no one is going to pay $400 sales tax on a $1000 HDTV.
What money is there going to be left to invest? Only people that could survive are millionaires. And they wouldn't be millionaires for very long. Ask a rich person if he rather have this tax system or pay $40K in sales tax on that $100K car he's about to buy?