Unfortunately, a more realistic scenario is that we will have a consumption tax AND a convoluted income tax, with high marginal rates on “the wealthy” (if there are any left).
And, we won’t pay off the national debt no matter how much tax we collect, because we will always spend far more than we take in until we are finally cut-off by our creditors.
At most, Ron Paul could be a spoiler to keep the Republican candidate from being elected.
Oh well.
sdrealtor,
I was bummed that I did not divert all my equity funds to cash when you did (and I still have not done so), but so far no damage done. Ask me next week!
