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National Sales Tax to replace the IRS and it's tax code. According to the World Bank the Gross Domestic Product of the US is nearly 17000 billion (170 trillion) for 2014. We need about 4 trillion for all the things we people want which would be a tax of about 2.5% on every transaction. Adjust the tax every 4 years to cover the budget and repay the national debt on a 30 year amortization schedule. There could be a tax on stock transactions that would contribute to lowering the National Tax.

Submitted by Glenn in Taxes & Budget Dec. 26, 2014, 12:57 p.m.

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#2107

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Timothy Salt

Actually GDP is around 17 trillion, not 170 trillion. The debt is around 17 trillion, or equal to one year's income for the nation. Not a horrendous level of debt realistically speaking. And, with low interest rates, now is the perfect time to borrow from ourselves--ha!--and invest in infrastructure, jobs and mitigating climate change. But that makes too much sense.

Jan. 9, 2015, 6:37 p.m.

Timothy Salt

Sales taxes are regressive. They affect the poor disproportionately and the rich the least. Why? Because the poor spend all their money, which means all of it would be taxed. The rich spend very little of their money, meaning very little would be taxed. I wish we could stop hearing about these sales tax instead of income tax "solutions." The problem with this approach is well known and it is so tedious...

Jan. 9, 2015, 6:39 p.m.

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