[quote=flu][quote=Aecetia]I must have missed it. I thought flu said, buy and ship from abroad. I would support VAT if it completely replaced both State and Federal Income Tax.
Today I heard that the new financial bill that is making the rounds may have a transaction tax built in for certain trades: Sen. Tom Harkin (D-Iowa) called for the creation of a tax on financial transaction to help reduce the deficit.
“At a time when the deficit is rising, we must find ways to reduce the debt without putting a heavy burden on average Americans or cutting necessary services,” he said. “A small transaction tax can raise substantial funds with virtually no effect on middle-class families. And it has the added effect of dampening down overly speculative trading, which is partially to blame for the recent economic crash.” Harkin joined Wall Street and economic experts as well as labor leaders and consumer advocates in calling for the tax.
Actually, many canadians at the border do just this. They get all their auto repair, big purchases done in the States to escape all the VAT/provicial taxes. Of course, they have to be careful about re-entry into canada, because if it’s so obvious, they end up paying customs at the border.
I’m looking forward to some Senator proposing a
savings tax or cash-in-the-mattress-tax for people making $200k single/$250k married…
The bill would be something like: if you hold on to cash longer than a year without spending it, whether it is in a 0% interest account or in your mattress, you have to pay taxes on it…. Heck, it would stimulate spending, wouldn’t it?[/quote]
That’s what Brian wants to do with his “wealth tax.” 😉
