Which Tax?

[willscarletnss]

The legal definition and the economic definition of taxes differ in that economists do not consider many transfers to governments to be taxes. For example, some transfers to the public sector are comparable to prices. Examples include tuition at public universities and fees for utilities provided by local governments. Governments also obtain resources by creating money (e.g., printing bills and minting coins), through voluntary gifts (e.g., contributions to public universities and museums), by imposing penalties (e.g., traffic fines), by borrowing, and by confiscating wealth. From the view of economists, a tax is a non-penal, yet compulsory transfer of resources from the private to the public sector levied on a basis of predetermined criteria and without reference to specific benefit received.

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[Machjo]

I can't vote in that poll. I'd say a resource tax, and my argument is as follows:

Resources, until sold, already belong to the crown. And so the Crown is free to sell these resources at whatever price it sees fit to sell them at. I guess looking at it that way, it would not even be a resource tax, but merely a hike in the price at which the Crown is willing to sell off its resources.

[Shady]

I like the flat tax idea.

[Jack Weber]

I like the flat tax idea.

Steve Forbes thanks you profusely...

[Jerry J. Fortin]

I would suggest that the so called effective rate of 40% is a farce. I have no idea what the required rate would be, but I do think we should find out. Its something we need to know. The calculation formula is everything in this regard. First of all we need to decide whether or not changes will have beneficial impact to citizens. Once that is done the concept needs to be sold to the public. Its the public that will in the end decide what any new tax law will look like.

What is taxed?

Financial transactions across the board. No exemptions other than personal income. All business transactions are taxable. All personal transactions are taxable.

In this manner you are really taxing the GDP of the nation. The tax base is expanded and higher revenues can be realized. I don't think we are will be as high as a 20% percent bracket when its all said and done, far less than what the nay sayer's predict.

[bloodyminded]

A truly despicable acquaintance of mine used to go to Thailand each year on vacation just to buy under-aged consorts. It sickened me. At least they were opposite sex. Still don't make me feel good.

???

Yeah, it would have been a lot worse otherwise.