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Old 11-30-2007, 04:26 PM
GittyUP GittyUP is offline
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Join Date: Dec 2006
Posts: 320
Default Re: Posting on the Ron Paul forum

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You're thinking of the Estate Tax. He thinks that shouldn't exist. Not sure which roads we would drive on if all taxes were abolished... the ones we build ourselves? Or maybe we just print enough money to render taxes obsolete... we're on that path now.

Paul likes a flat tax... replace current income and sales tax with 25% tax and an additional 3.5% on the highest incomes (c. $200K+). That seems a bit too onerous on those at less than 200% of the poverty level.

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paul thinks income tax also should not exist. It will be replaced with a consumption tax. AKA you get taxed more the more you spend your money. It encourages people to earn and save and ultimately spend because income is higher and goods are cheaper (even though you have to pay a tax to buy them)
This is a system that most experts agree is the best but doubt anyone will be able to overhaul such an entrenched system. Paul is the only one willing to give it a try.

Consumption tax wikipedia
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