Who sees our present economic situation as a real opportunity to abandon property and income taxes altogether?
and go to a 100% consumption based tax system?
With a consumption based system everyone pays taxes according to what they buy instead of what they make. Thrifty savers are rewarded and people who spend, spend, spend pay more.
Illegals and criminals will pay taxes on their ill-gotten gains if they want to spend it.
No more 1040s to file.
You pay taxes when you buy a stock, not when you sell it. If you make money, good for you! It’s yours! If you lose money, nice try. Better luck next time. Smart investors are rewarded instead of stupid investors.
Right now, even when you pay off your mortgage, you never really own your house. If you don’t pay your property taxes, your house belongs to the government. With a consumption tax, you pay your taxes when you buy your house and then you’re done. It’s yours. REALLY yours.
And does supporting something like this make me a liberal or a conservative? I know my social views put me squarely on Team Liberal, but my financial views don’t seem to fit with anyone’s agenda.
So what do you think of a consumption tax?