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Once Considered Unthinkable, U.S. Sales Tax Gets Fresh Look

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Posted

Why of course they do. ;)

Uh huh, exactly!

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Posted

Does anybody know how much the total collective savings of all the US citizens are out there?

Sure, that would be the amount the government intends to increase taxes the next 3.5 years.

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Posted

Do they plan to eliminate other taxes to implement this one?

It mentions at least one idea for this in the article.

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Posted

fairtax.org :)

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Posted

Interesting. But the agg savings rate "supposedly" went up.

Odd numbers.

In six out of the last eight recession (back to 1960) the savings rate actually increased during the recession, with the logic being that households disproportionately cut back on expenditures relative to any losses in income and net worth. It makes sense - the fear factor. Generally people are risk-averse during recessions, but risk-neutral or risk-seeking during expansions.

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