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In light of our discussion of a stimulus package and the U.S. tax structure, below is the link to an article from The Economist. In it the author discusses what a fair tax system might look like, or rather not look like. What are your thoughts on some of the insights in the article?
http://www.economist.com/blogs/freeexchange/2011/05/fiscal_policy?fsrc=scn/tw/te/bl/whosaidtaxesarefair
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Flat tax, flat tax, flat tax. End of story.
ReplyDeleteMore efficient. More simple. More justifiable.
We would be far better off.
I love taxes. A low, broad based consumption tax would be effective, efficient, and have low collection costs. The rich would pay more as they consume more.
ReplyDeleteI love this article. You must have a great roommate.
Really good article... There's nothing more to say. A broad based consumption tax would be much more efficient and much much more effective leaving every American much better off.
ReplyDeleteI really like this article too and it brings up good points that I'm sure others in power have never thought about. I'm confused though, isn't what he's suggesting, taxing consumption, kind of like our sales tax? He is the difference that he is suggesting talking about taxing services too? To play devils advocate for a moment, if this was enacted, do you think it will cut down on consumer spending in general, especially on services? I know that when I go to states or cities with higher sales taxes, like Chicago, I am very careful with my spending. But then again, we all need consumer goods to survive...
ReplyDelete