Originally posted by: TheAdvocate
I'm very saddened to see that only dullard gets why this is such a horrible idea. Of course Boortz & his cronies love it - it's a consumption tax, which will shift the tax burden ridiculously far down the pyramid and cement the aristocracy in the U.S.
A consumption tax does not tax the wealthy (not the high income folks, the wealthy, a fundamental and essential difference). The wealthy earn passive income (not taxed), make finite purchases, including like kind exchanges that will not be taxed, and as a % of income, will pay tenths or hundredths of pennies on the dollar for every dollar the average college educated professional pays in what I'd call inelastic or fixed cost consumption (everyone needs transportation, housing, food & other basic necessities).
As it is, there are numerous loopholes for the rich (not the high income folks) to avoid paying income taxes through. It boggles my mind that they openly lobbying for even more via this system. I annuallys ee hundreds of individual tax returns, and speaking very practically, the lion's share of income tax is paid by high salary inviduals and sole proprieters who do not have adequate wealth planning/management provisions in place to shield thier income. Even when a wealthy indiviudal does tend to pay tax, it is at the much lower (thank you Dubya) capital gains rate.
I don't play partisan politics. I think horrible things about partisanship and will not join a political party. I also despise that govt spending is way out of control under both political regimes over the past couple of decades. That is the area that needs to be addressed, and is one of the few times I tend to agree with Boortz and his self serving political/social policies. We're attacking the wrong side of the problem.
