Quote:
Originally Posted by Villages Kahuna
Richie, how are you going to explain how great that 9% income tax is to the 45-50% of Americans who don't make enough to pay any income tax now under the current tax tables?
In that that group is pretty important in spending on "stuff" to keep the economy going, explain please how half the population having less to spend after paying the new 9% tax is good economic policy?
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I don't have all the answers. It just sounds better than we have now.
Nathan Lewis wrote an interesting piece in Forbes where he compares the "Flat Tax", the "Fair Tax" and Cains 9-9-9 plan. It's an interesting read. I especially was intrigued by Hong Kong's Tax Plan (even though the author doesn't think it would raise the required revenue for all our rampant spending)
http://www.forbes.com/sites/nathanle...ns-9-9-9-plan/