Quote:
Originally posted by ltl/fb
And you do realize that if you are accepting keeping tax rates low on lower levels of consumption, the tax rates on higher levels are going to have to be pretty astronomical to have this be revenue neutral?
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No, because pretty soon all hte baby boomers who are socking it away tax free, will start pulling it out and paying taxes that would have been paid now.
Once it's fully implemented it would be revenue neutral, with only a shift from savers to dissavers who are paying. And everyone will be richer because of the stimulated investment.
Why do you focus on rates? I'll pay 100% of my first dollar.
