Comments on: Redistributing Wealth, Simplified http://www.openmarket.org/2008/11/07/redistributing-wealth-simplified/ The Competitive Enterprise Institute Blog Fri, 10 Feb 2012 12:34:53 +0000 hourly 1 http://wordpress.org/?v= By: become a millionairehttp://www.openmarket.org/2008/11/07/redistributing-wealth-simplified/comment-page-1/#comment-87059 become a millionaire Fri, 21 Nov 2008 16:39:18 +0000 http://www.openmarket.org/?p=5818#comment-87059 overall, I think consumption tax is a bad thing overall, I think consumption tax is a bad thing

]]> By: Greghttp://www.openmarket.org/2008/11/07/redistributing-wealth-simplified/comment-page-1/#comment-80716 Greg Wed, 12 Nov 2008 12:39:23 +0000 http://www.openmarket.org/?p=5818#comment-80716 Over the years I've saved a lot of money and have already paid income tax on it. If we abandon the income tax system for a consumption tax system, I'll have to pay another tax on that money when I spend it. In effect, the value of all my savings will be reduced by 20% or whatever the consumption tax rate is. I can't imagine many retired or wealthy persons thinking this is a good plan. Over the years I've saved a lot of money and have already paid income tax on it. If we abandon the income tax system for a consumption tax system, I'll have to pay another tax on that money when I spend it. In effect, the value of all my savings will be reduced by 20% or whatever the consumption tax rate is. I can't imagine many retired or wealthy persons thinking this is a good plan.

]]> By: ron higgshttp://www.openmarket.org/2008/11/07/redistributing-wealth-simplified/comment-page-1/#comment-79273 ron higgs Sat, 08 Nov 2008 21:52:53 +0000 http://www.openmarket.org/?p=5818#comment-79273 Check out the following links. All objections to the Fairtax listed here as "the bads" are answered at the following site.<br> <br><a href="http://www.fairtax.org/site/PageServer?pagename=about_main">http://www.fairtax.org/site/PageServer?pagename...</a><br><br><a href="http://www.amazon.com/FairTax-Answering-Critics-Neal-Boortz/dp/0061540463">http://www.amazon.com/FairTax-Answering-Critics...</a> Check out the following links. All objections to the Fairtax listed here as “the bads” are answered at the following site.

http://www.fairtax.org/site/PageServer?pagename…

http://www.amazon.com/FairTax-Answering-Critics…

]]> By: Marshallhttp://www.openmarket.org/2008/11/07/redistributing-wealth-simplified/comment-page-1/#comment-79228 Marshall Fri, 07 Nov 2008 14:30:19 +0000 http://www.openmarket.org/?p=5818#comment-79228 <i> The tax must replace the current income tax, not supplement it</i>That's the killer for me.Unless it's coupled with a repeal of the 16th amendment, I won't support it.Otherwise, no matter how good the intentions of the people drafting the legislation, in a few years we will have both. The tax must replace the current income tax, not supplement itThat's the killer for me.Unless it's coupled with a repeal of the 16th amendment, I won't support it.Otherwise, no matter how good the intentions of the people drafting the legislation, in a few years we will have both.

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