The Obamanation

Originally Posted by TheMercenary

According to this economics professor at Princeton, simply a 5% increase in the form of a consumption tax would raise $500billion a year.

http://economix.blogs.nytimes.com/20...odays-economy/

More than enough to deal with many of our problems in a few short years.

$500 billion would barely cover the annual interest on the US national debt.

[TheMercenary]

Originally Posted by Redux

$500 billion would barely cover the annual interest on the US national debt.

Tell it to Obama and the Dems in Congress.

Which is why it should be 23% IMHO and not 5%.

Originally Posted by TheMercenary

Tell it to Obama and the Dems in Congress.

Which is why it should be 23% IMHO and not 5%.

LOL....it took awhile for you to blame Obama and the Dems in Congress.

The fact remains that every president and Congress, Dems and Repubs alike, for the last 80+ years has supported a system of progressive taxation rather than a flat consumption tax.

[TheMercenary]

Originally Posted by Redux

LOL....it took awhile for you to blame Obama and the Dems in Congress.

The fact remains that every president and Congress, Dems and Repubs alike, for the last 80+ years has supported a system of progressive taxation rather than a flat consumption tax.

Not when you compare the national debt and the way money is being spent by Congress in the last three months.