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


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#25 Fireball77

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Posted 27 May 2009 - 10:46 PM

Why of course they do. ;)

Uh huh, exactly!

#26 Kevin Greene

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Posted 27 May 2009 - 11:38 PM

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.

#27 cookinwithgas

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Posted 28 May 2009 - 07:27 AM

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


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

#28 mr beauxjangles

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Posted 28 May 2009 - 10:44 AM

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


Look at the line for personal saving. The BEA defines personal saving as disposable personal income (post-tax) minus consumption expenditures and interest payments.

http://www.bea.gov/n...7&LastYear=2009

#29 pstall

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Posted 28 May 2009 - 12:21 PM

Look at the line for personal saving. The BEA defines personal saving as disposable personal income (post-tax) minus consumption expenditures and interest payments.

http://www.bea.gov/n...7&LastYear=2009


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

#30 Kurb

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Posted 28 May 2009 - 12:26 PM

fairtax.org :)

#31 mr beauxjangles

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Posted 28 May 2009 - 02:37 PM

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.