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National Sales Tax and the 16th Amendment
We’re bound to hear lots of discussion of the various proposals from Bush’s tax overhaul panel which begins meeting today.
President Bush’s new tax overhaul commission will begin a daunting task today, complying with all of the guidelines the president has spelled out, the panel’s vice chairman said Tuesday.
And conservatives (including myself) are generally open to the idea of a consumption tax and potentially along with that, the near elimination of the IRS. But before we hitch our wagons too solidly to that bandwagon, we would do well to recall what Walt Williams warned about late last year:
Before we accept a national sales tax, there are two minimal requirements. First, there must be a repeal of the 16th Amendment so Congress can’t hit us with both an income and sales tax. Second, there must be a constitutional amendment fixing the national sales tax at a certain percentage that can only be increased by a three-fourths vote of the House of Representatives.
Check out fairtax.org if you want to know more about the national consumption tax idea. And here is a summary from the St. Petersburg Times of some of the options on the table.
http://myopiczeal.blogsome.com/2005/02/16/flat-tax-gotcha/trackback/
Thank you, friends, for your sharing your ideas
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