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I think the U.S. is safe from a national VAT until at least after the 2010 elections. At that point they might consider it. There are other low-hanging tax fruits to pluck, however, like removing the...
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Jeff, You make some assumptions that hurt your thesis quite a bit, but arguing about the best method of wealth redistribution by the government is an exercise in absurdism, something along the lines of...
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Thomas, you clearly didn't READ my commentary, since you make assertions which I DEMONSTRATED were false in the piece. NO, the money of the ultra-wealthy did NOT go into REAL investment (i.e. roads,...
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Jeff, I did indeed read your commentary. The fundamental problem is that you place the blame on the rich, and approach the problem of disparity in wealth allocation from a class warfare perspective....
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Thomas, you didn't read the link I included with this article - where I thoroughly analyzed income tax AND the permanent tax-holiday for the ultra-wealthy: "Income Taxation is a Failed System"...
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...just wanted to add "sorry" if I seem especially strident here. The tax system is an issue I've studied for over a quarter of a century (not to mention four years of economics and two years of...
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Well, Jeff, when it comes to using the word "fairness" I believe I need to disagree. That word implies a value judgment, i.e., some sort of agreed-upon standard. For instance, I agree that it would be...
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JsJ, in general terms, I agree with your point: I'm using what are generally SUBJECTIVE standards for a tax system. However, I submit that "fairness" CAN be defined objectively in a tax code. As a...
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Jeff, I read what you linked, and I believe that what you said has a lot of validity. I will accept that "fairness" can be described objectively, and that we are objectively failing, if the following...
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An excellent rebuttal, with one exception: if wealth is taxed only on a one-time basis, then immediately after that we will go right back to stockpiling HUGE pools of 'idle wealth' - which benefits no...
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Jeff, Perhaps I misunderstood you. I thought you were advocating taxing investments held, as in a stock portfolio. If such investments were not to be taxed as a part of "wealth", then your tax could be...
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JsJ, you have to realize that with EVERYTHING taxed, the tax rate would be low: a single digit number. And along with that, sales taxes would be gone, and perhaps even corporate taxes. People have no...
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Jeff, If everything is taxed, I agree, the base would be huge. In order to understand the problem with that, however, you need to look at the value of interest. Prior to 1933, and subsequent to the...
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EDIT TO BELOW STATMENT: Interest calcualations were over 20 years, not 40 years. Twenty years of compounded 5% interest on $200 = $530 and change. (40 years = $1400+) Those unreadable numbers,...
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In a 'free' society, Business (the engine of Wealth) is the Leader – the 'King'. And since it's 'The People' who are running all sorts of businesses and consuming each others production, it can be...
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Hi Phoenix. I understand the "laissez faire" sentiments you are expressing. However, we must distinguish between MATURE capitalist economies and developing capitalist economies. In developing...
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Hi Jeff, The point you were addressing in your article here was Taxation Gone Wild – the V.A.T. and its destructive consequences. I commented on the unnecessary need for any taxation whatsoever by...
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