Raving idiot. The gov't is not $7 trillion in debt, but Bush does plan to increase the debt to $5 trillion by 2008. A VAT is a purer tax, and if you like I, an avowed eco-nut, have a thesis I wrote on using a VAT system to move toward a fairer and more honest consumption tax. It ain't just the IMF that thinks a VAT is better, but most all OECD countries.
Selling a house is taxed. All dollars greater than your original purchase price count as "income" and get taxed at the capital gains rate -- currently (I think) about 20%.
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Do you remember John Maynard Keynes and his socialistic "Keynesian economics"? Essentially, back in 1933 when America went into a major depression, Franklin Roosevelt relied on the "innovative" thinking of Keynes who recommended deficit spending to create new jobs. Well, 70 years later, every level of government in the United States is broke.
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JM Keynes was a genius in his day. His ideas were incomplete, but so were Einstein's. Don't blame him because our government was only smart enough to implement the "recession spending" portion of his plan without ever implementing the absolutely necessary "boom taxation" portion.
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For example, in 1973 when England introduced the VAT, it started at 10 percent ... today it is up to 18.5 percent.
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And it pays for most of the free public health care. Anyway, who says you have to tax at 18.5%??
I could go on (on privatization and other fallacies in the article), but in short, this irresponsible article contains more ignorance than someone with a journalism job should have or any citizen should have.
Sorry, pritchke, if this sounds like it is against you. It isn't. It's against the article.
[ 05-28-2003, 07:29 PM: Message edited by: Timber Loftis ]