Tax codeFollow

There has been a lot of talk the past couple of days about a reformation of the tax code. What do The Asylum's respective posters think about the complete elimination of the IRS and the implementation of:

1.) A value added tax. From what I understand this method of taxation taxes a product everytime value is added to it. So, for example, timber is cut over in anytown, anycountry. The timber is then taxed when it is refined. It is then taxed again when it is made into a table. So, in the end, prices will increase for products in order for business to keep turning a larger profit. But, consumers will not be paying an income tax so it MAY balance out for buyers.

2.) A national sales tax. Simple a base maybe 3-5% tax on every transfer of currency in the US.

3.) Finally, a flat tax rate. Everyone pays a flat tax of say 15-20%. This extends from lowest to highest income.

This may become a big issue in this election. So, what does everyone think?

-Edit-
BTW, I apologize if this thread was already covered.

Edited, Thu Aug 5 16:37:40 2004 by Lordimsorry

I think everyone in the nation should cough up a penny a year to defray my living expenses. At ~200 million people, that's a couple million bucks.

Don't tell me you can't afford to cough up one God damned lousy penny, you cheap fu[i][/i]cks.