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New Mexico | Just simple income and expenses......But with a sales tax on everything bought / sold.
And I mean everything ( even the keys to heaven ).
Just seems easier and fairer. Certainly a good deal for workers because their taxes actually would go down a bunch. Say 4% on labor sold of 40k would only be $1,600 per year tax for said family vs the 12k income tax they pay now.
Granted it would be a tax for those funds who park 200 to $400 billion in stocks every year.
Basically the entities and folks who buy more stuff ( inputs ) would end up paying the bulk of taxes.
Nothing wrong with that.
One thing about money....if someone makes $5 million per year they spend it ( even cd yields need to be sales taxed )....if someone makes 5k per year they spend it. Sales tax covers ALL of the afore.
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I'm a bit bewildered by the purist capitalism thoughts
