Quote:
Originally posted by taxwonk
If you are actually advocating eliminating the corporate income tax and shifting to a consumption tax, then you can definitely forget. The rates would be so high that Britney Spears would have to do her shopping at Wal-Mart out of necessity rather than choice.
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There was a time when consumption taxes made up a large part of government revenue. That time effectively ended with the Deal and, more importantly, World War II.
Burger, is your proposal that we return to a government that looks and operates as it did in the 30s? Many conservatives have long argued for drying up revenue and letting expenses follow. It strikes me that your proposal, with revenues coming in on the back end but heavily deferred by exempting savings on the front end, is a set up for such a shift in spending.
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