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'The Defining Issue of Our Time'? Hardly

rita182 Wrote: May 07, 2012 6:24 PM
Go to fairtax.org and see what the lack of an income tax would do. All income-based taxes eliminated, all corporate taxes gone, and a 23% federal sales tax on new products and services. 1. Individuals and companies would keep all they make. Great incentive for bringing jobs back from overseas. 2. Businesses would not pay the tax on materials bought for the business (stuff used to make stuff). 3. A rebate equal to the marginal tax rate sent monthly to every person with a social security number would make the poor exempt from the tax, with the percentage of tax paid rising as income rises. 4. Used products (already had the tax paid on it), could be sold tax-free. This would increase reuse of items and encourage better-made products.
There is nothing new under the sun, including politicians who seek to win votes by milking the gap between rich and poor.

Today it's Barack Obama, demanding a "Buffett rule" and decrying the harm caused when "the gap between those at the very, very top and everybody else keeps growing wider and wider and wider and wider." Not so long ago it was John Edwards, intent on riding his "Two Americas" stump speech ("One America does the work while another America reaps the reward") all the way to the White House. Earlier still it was FDR, lambasting the...

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