Re: A tax on both your houses! (was: Comes the Revolution)
Date: Wed, 17 Jan 96 16:33:04 -0800
From: Peter Langston <psl>
Subject: Re: A tax on both your houses! (was: Comes the Revolution)
From: Howard Owens <owens@GEMINI.ADNC.COM>
Here's a vote for a national sales tax on consumer items and big ticket
items such as cars and boats instead of an income tax. It's a sort of pay
to play plan for the rich and a tax break for those who can't afford
luxuries anyway. No loopholes, no deductions. No rush to file tax returns
on April 15.
>At 11:20 PM 1/16/96, Linda Korrow wrote:
>>Perhaps this flat rate tax will make a difference if adopted. I haven't
>>heard any details but I recall some early projections of very significant
>>reductions in the taxe rate. In addition to relieving social pressures and
>>boosting the US market, perhaps this would also position the country to
>>begin to implement a system health care for everyone. Hmmmm.
>On the contrary, a flat tax would, in all probability, make the resentment
>worse. The wealthy now pay in the 38-39 percent bracket on income. The
>highest flat tax proposal I've heard is 17 percent.
>That's right: The wealthy would get their taxes cut by half, while the
>working middle class would lose the home mortgage interest deduction and
>end up paying thousands more.
>The flat tax isn't better; people just love the simplicity of it.
>I would like to see a wealth tax on all assests and income over a certain
>amount as they do in Europe. Bruce Tober, you probably know more about this
>than I do. Any ideas on that "wealth tax?"
>Chris Allbritton -----> http://www.axs.net/~callbritton/
© 1996 Peter Langston