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    « Everything's Bigger | Main | Presidential Endorsements III »

    September 05, 2007

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    Mark A Shrider

    Hey Ron,

    Love your play-by-play debate coverage.

    Just wanted to point out one thing --- the 23% consumption tax/fair tax/sales tax (it's all the same thing) that Huckabee has proposed...while it appears higher than Forbes' 17% flat tax it doesn't tax your income like the flat tax would have.

    Huckabee's plan would eliminate the income tax completely. Forbes' plan was still an income tax. Even though both plans are flat taxes the difference is in what's being taxed. So the difference in the rate reflects that.

    FCPolitico

    Mark,

    Thanks for the information. I missed the difference between the two until you brought it up.

    I wonder what would be better and keep more money in our bank accounts...a flat tax on income or what we spend? If anyone knows where a chart comparing them might be found, please pass it along.

    Interesting tidbit...while I was reading more about this today, I found out that Forbes is National Co-Chair and Senior Policy Advisor for Giuliani's campaign (http://www.joinrudy2008.com/news/pr/79/).

    OK - it may not be earth shattering, but just something to keep in mind when Giuliani speaks.

    -RSKnopfJr

    Mark A Shrider

    Since tracking income isn't so easy because we have illegals as well as citizens who sometimes work "under the table" it seems that taxing our consumption would be easier & eventually raise more revenue with the possibility of lowering everyone's tax burden who are currently paying taxes.

    Especially when you look at people like Paris Hilton who don't necessarily have a large "income" --- she has networth in the form of trust-fund type of money. But, she's a huge consumer --- thus people like her with large amounts of wealth but by comparison a low income would help shoulder the burden of taxes.

    I like the idea of the sales tax --- with the stipulation they do away with the income tax --- I'm not so comfident the change over would be all that smooth.

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