Thursday, March 03, 2005

Yahoo! News - Greenspan Touts Idea of a Consumption Tax

'A simpler tax code would reduce the considerable resources devoted to complying with current tax laws, and the freed up resources could be used for more productive purposes,' Greespan said.


Yeah, that is why I'd be in favor of it. No more tax returns. Woo hoo... but then it goes on to say that getting a consumption only tax passed is probably not possible, so it would have to be a combination of both. And given that, I'm not sure of the point. May make things simplier at first, but if you still have an income tax, whose to say that over time it won't just grow back to what we have now...

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