Greenspan: tax revamp should broaden base, cut rates - Mar. 3, 2005: "Greenspan said a move away from the current income tax to a tax on consumption could be the best way to promote economic growth. He said, however, a wholesale shift would raise 'a challenging set of transition issues' and noted such a move was considered, and discarded, in 1986.
The White House Council of Economic Advisers said last month incremental changes to the current system would be a better approach than more drastic changes, such as switching to a national sales tax or 'flat' income tax rate.
Many analysts say the Bush administration has effectively moved to a more consumption-based system over recent years by lowering marginal tax rates, cutting taxes on capital gains and dividends, and pushing for greater saving incentives. "
Gosh, one gets all excited about hearing 'consumption tax' thinking that maybe it was something to decrease America's hefty burden on our world and its resources, but alas, it is just another give away to the rich. Ugh.
The White House Council of Economic Advisers said last month incremental changes to the current system would be a better approach than more drastic changes, such as switching to a national sales tax or 'flat' income tax rate.
Many analysts say the Bush administration has effectively moved to a more consumption-based system over recent years by lowering marginal tax rates, cutting taxes on capital gains and dividends, and pushing for greater saving incentives. "
Gosh, one gets all excited about hearing 'consumption tax' thinking that maybe it was something to decrease America's hefty burden on our world and its resources, but alas, it is just another give away to the rich. Ugh.
