Would a combination of a federal sales tax and progress tax work?

People who earn $100,000 or less account for about $300 billion in tax revenue.

If this income bracket were exempt from the progressive tax and a 6% federal sales tax established, there would be about a $500 billion net gain in tax revenue.

This would tax middle and lower income (and drug dealers) only on money spent, not saved. Money needed for mortgage payments would not be taxed, as the tax would apply only on the sale of a home.

For incomes above $100,000 the current progressive tax could apply with a standard tax credit for the sales tax.

This is not a supply side approach. So it%26#039;s likely never going to fly. But it seems like it would solve the deficit problem in the first year.

Would a combination of a federal sales tax and progress tax work?

Google %26quot;Fair Tax%26quot;. Read the book by Linder and Boortz. Get back to me if there is any sane and rational objection to this system, which I favor.

Would a combination of a federal sales tax and progress tax work?

What%26#039;s up with the %26quot;drug dealers%26quot; comment? Do you honestly believe that all low income citizens are drug dealers?

Besides that your idea sounds good to me, but I don%26#039;t have a clue why you felt it necessary to muck it up with the drug dealers BS.

Ok I understand now. I like it.

Would a combination of a federal sales tax and progress tax work?

There should be only one type of tax - a %26#039;consumption%26#039; tax.

The more materialistic you are, the more you pay. Is there anything more fair than that?

Would a combination of a federal sales tax and progress tax work?

That might work, but I would favor just scrapping the income tax altogether. As long as we keep the income tax, the temptation to expand it will be too great for politicians to resist.

Without the income tax, we might see an initial decline in revenue...but hey, the Federal government could stand to cut spending anyway.