So .. how does a transaction tax stack up?

From: Russell Turpin (
Date: Fri Mar 30 2001 - 09:08:19 PST

As long as we're discussing tax systems, what
about this one: a flat rate transaction tax on
every exchange. This would include all purchases
or leases of goods, services, stock, real estate,
derivatives, etc. This transaction tax would be
added to the rent on your office, the price of your
house, the car you buy, and the shares you buy
of IBM. Businesses and individuals the same.
Every exchange between different parties gets
taxed at one flat rate. I suspect a very moderate
rate of 2% or 3% would bring in as much tax as
the existing income tax.

So .. how does this tax stack up in the various
metrics? Is it equitable? Easy to administer?

Sailboats should be excluded, of course.


This archive was generated by hypermail 2b29 : Fri Apr 27 2001 - 23:15:16 PDT