FA_Q2
Gold Member
What About A Consumption Tax... No Loopholes?
If you purchase anything, you pay the tax ... Same rate across the board on all products and services.
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A consumption tax, by its very nature, must have loopholes and that is one of the reasons that the advocates of the system here have not convinced me to join them. Some of the same questions come up like where the tax is applied. For instance: a sheet of plywood, when bought by you the consumer, would have that tax on it yet would the business that purchased such a product to build a house be taxed the same?
Almost all the consumption tax advocates say no but now they have just blown a hole a mile wide in the tax system and given politicians (and voters) another place to start demanding special interest tax breaks. It gets overly complicated from there as well.
I don't think that there is anyone working seriously on revising our federal taxation process. Despite that, the parade of nutballs trying to sell what's better for them at everybody else's expense is endless.
No one is working on it because congress gets far too much power enriching its members and paying off their friends with the convoluted tax code that exists today. What we have right now is ‘what’s better for them at everyone else’s expense’ and you are defending such a terrible system.
The fact that you cannot recognize that is downright scary.