Monday, October 3, 2011
The Phantom Conservative suggests...........
How about a new tax called the “National Debt Solution Tax”. A flat 1% tax on all retail sales, tied to a balanced budget amendment with teeth. This is kind of a National Consumption Tax and every penny goes to paying off the national debt and the idiots in Congress cannot move these funds around or tamper with this tax. This would be handled by a whole new government agency, NOT THE IRS. This is a very fair tax to the poor and the super rich. Yes, food stamps would be excluded and maybe home purchases. Let's say that I am a middle class American and I go to buy a car that costs $20,000: I pay $200 bucks. Donald Trump wants to buy a $600,000 Maybach Mercedes, so he pays $6,000. A poor person buys a $1,500 junker, they pay only $15. I go to the store and get $100 buck of groceries, I chip in $1.00. Someone should calculate how much this would generate and how fast it might start to bring down the debt or, if nothing else, cover the damn interest. This is not the same as the Flat Tax that Herman Cain and others are recommending and have recommended over the years. This is a special tax to solve a special problem and it would send a strong message to the rest of the world that the American people are going to step up to the bar and address the problem with their pocket book. This would not bother me and, as stated, it would have to be tied to a balanced budget amendment. I wish I had the numbers to calculate the financial impact of this. This would not be on wholesale sales, only on retail sales or sales of goods and services to the end users. Yes, even the attorneys and accountants would pay 1% for selling there services. This is much better than the 1% transaction tax that has been bounced around, because many people do not have bank accounts and there is the entire underground cash economy that would avoid the transaction tax. 1% would not kill anyone!!!!!!!!!!, but Congress would be forbidden to ever increase this amount or use these funds for anything else that to pay the nation debt.
SO.....THE PHANTOM would like your opinion (he's a good friend of mine) and so would I......GO FOR IT. thanks.