[initially posted Wednesday July 9, 2008 - 03:39pm (EDT) on 360.yahoo.com by me, but they are soon closing the 360 site]
So we have a bunch of basic ways to tax the population to pay for all the wonderful public works projects, and the other necessary things, plus some impropriety and nepotism. The big ones are consumption tax, income tax, property tax, and estate taxes. My idea is to phase them all out for a net worth tax; just about 3% a year on net worth... ...you know, what you own minus what you owe. Rough estimates show it would cover the budget deficit and pay down the debt over time.
