Obamageddon has arrived! Investors are heading for the bunker today. (page 9)

Gary, I looked into national sales tax, and it turns out it is unconstitutional. I used to know exactly where in the constitution all this was, but basically here is what it says. Fed. government can tax international and interstate commerce only. They can tax interstate commerce on one level only. So a wholesale or raw material purchase, but nothing after that. The states alone have the right to tax transactions within the state.

I don't think we will ever see a national sales tax. And the rich don't spend their money like others do. They will take the biggest hit. yes they by luxury items, but they invest the bulk.

NC

moshe

on a side note--, Many years ago I proposed that Congressional salaries be indexed to the minimum wage- it's only fair.

Berengaria

Perfect!!!! Moshe you've hit a fine nail.

shamus100

NC,

I hope that you are able to work again one day. I cannot imagine how frustrating it must be for you. :(

NewChapter

Oh Shamus! I used to be a powerhouse at work---the frustration is at times unbearable. It is aggravated by people's assumptions about me. I do hope to work again too---but I think it will have to be on my own terms. If health care reform sticks in America, I will be able to purchase health insurance---so maybe I WILL be able to work again, if I can work for myself. As it is, I can't get health coverage until the reforms kick in in 2014. Not a real consideration for me at the moment, since I won't be able to work before then.

You just have no idea what it feels like to have money and a job and respect. To be able to travel at will and even waste some money. Then overnight every penny counts and it's never enough. I have amazing skills and knowledge and experience, and I can't use them. People's view of me has changed, but I haven't changed. I just got sick. In America, that is unforgivable. This is why I take much of what is happening in government so personally. That's why the tea party gives me cold chills.

NC

garyneal

But the truth is, that this kind of abuse of the system is nothing in comparison to corporate cheats and ultra wealthy loopholes. We all need to raise our eyes a little higher.

Good point, I think I did mention eliminating oil subsidies as a suggestion as well. At any rate, we need to eliminate corporate welfare as well.

garyneal

Gary, I looked into national sales tax, and it turns out it is unconstitutional.

I thought the personal income tax itself was unconstitutional, until it was implement.

Bear in mind that my suggestions are simply that. I think ideas need to be put on the table instead or mud slinging. We are a small group of people who's ideas may never leave this board, but if even we cannot explore any possibilities without the mud slinging then is there any real hope for this country?

NewChapter

I agree Gary. That's why I looked it up a few weeks ago. I was surprised at what I found, and thought I'd share it. I'm not as clear on the income tax. I think I'll look this up again.

NC

Berengaria

I totally agree Gary. I love to discuss the nuts and bolts. I let myself get drawn in by the nastiness far too often.

Obamageddon has arrived! Investors are heading for the bunker today.

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