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TFC Commodity Trading Forum

Re: Trump is humpin like a whore bunny on Friday n

This is an example of how government has become so bloated. I recall, back in the mid seventies ... there were studies of replacing income tax with a national sales tax. The number crunchers and policy wonks came up with the figure of ten percent. There was not supposed to be any product or service sold that would not be subject ... food, haircuts, etc. .. real estate purchases ... were all to be taxed. This, purported at the time, not only would replace the federal income tax, but it would pay down the national debt.

The hue and cry ... this is TOO much ... the people could never be expected to pay THAT much.

Roll ahead forty years ... In this area ... state/local sales tax is eight percent. Property taxes, in some suburbs exceed five percent of assessed market valuation ... I am not from this part of the c0untry ... however, research shows that the property taxes, in 1975, in those same suburbs was under one percent ... and the sales tax was four percent.

Now, when ideas of a national sales tax ... some call it the "fair tax" ... they can't hit the line without a twenty percent tax.

Give 'em an inch and they'll take several thousand miles.