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Originally posted by Captain ******* KirkView Post
It's not hard to make it progressive; just give people cash handouts equal to the tax they would pay at a certain dollar amount of consumption (the poverty line, for example). Much more efficient and better at reducing wealth inequality than our current income tax system.
Fair Tax
"Just puttin on the foil" - Jeff Hanson
“In a democracy, I realize you don’t need to talk to the top leader to know how the country feels. When I go to a dictatorship, I only have to talk to one person and that’s the dictator, because he speaks for all the people.” - Jimmy Carter
Are the houses considered an asset for net worth, or are they considered the property of the bank for the purposes of the calculation?
I think it's the former. If someone owes $100k and they own a house worth $200k then they have $100k in net worth. The $100k they owe is part of the net worth of the bank's shareholders.
You weren't pointing out any "flaws". You just took someone's post too literally and then wrote a long winded and boring rebuttal to your interpretation of what they posted.
Be nice. It's not his fault.
I'm sorry, I can't hear you over the sound of how awesome I am.
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