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Interesting idea.
In theory, it would put the wealthy and poor at the same "rate." Is that fair? Maybe it is, because the wealthy will buy a lot more and, thus, pay "higher" taxes. It would at least probably get rid of all of the loopholes higher income taxpayers use to skirt income taxes.
In terms of buying things from out of the country, Customs would have to do something to be sure duties are paid.
I'm sure there are a whole lot more problems I haven't thought of and I'm looking at this initially in an extremely elementary outlook.
But, on the face of it, maybe it would be a good idea.
Besides, I'm mad at our CPA right now. I'm sure he would find other stuff to do if Income Taxes went away.
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Fraternally,
DeltAlum
DTD
The above is the opinion of the poster which may or may not be based in known facts and does not necessarily reflect the views of Delta Tau Delta or Greek Chat -- but it might.
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