The Power to Tax is the Power to Destroy
Sir Alan Greenspan floated the idea of a national sales tax the other day.
Yeah, baby. Now you’re speaking our language.
Ahem.
FWIW, I’ve been floating the idea of a national sales tax, in lieu of a federal income tax, for the better part of 20 years.
Let’s get rid of this asinine income tax system. Let’s replace it with a national sales tax.
And, yes, exempt food and water, for Pete’s sake. We don’t need to have the feds taxing those items.
With a national sales tax, the more you spend, the more taxes you pay. But, if you want to save all of your money (after FICA withholdings — which is the next domino, of course), you save it. You’re not giving it to the government, so they can fund the construction of statues of Robert Byrd and the like.
You also get the benefit and time value of all that money which currently is being taken out of your paycheck. So, raTHer than giving the feds an interest-free loan, which you might get back in the form of a refund, the following Spring, you get to invest that money, at much higher rates of return, the moment you get paid.
Or not.
Or to just put it under the mattress, if that’s what you want to do with it.
Or to burn it.
But, that’s the whole point. It’s your money, not theirs.
Save us, please, from the tyranny of evil federal governments!
UPDATE: A number of the blog’s thread barons have pointed out the benefits of a flat tax. Indeed, I like the concept of a flat tax; especially when compared to the current, idiocy system, with which we’re saddled. However, just keep in mind that a flat income tax still taxes capital formation and investment, whereas, a national sales tax would completely exempt the fruits of capital investment from direct, federal taxation. Which means, of course, more investment. And then more jobs.
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