July 16, 2014

TAX WHAT YOU DON'T WANT:

Gary Johnson: Abolish the IRS! (Rob Nikolewski, 7/15/2014, Human Events)

Johnson's call to abolish the agency dates back to 2009, after he met with a number of economists, including Jeffrey Miron, director of Undergraduate Studies in the Department of Economics at Harvard, who became an adviser in Johnson's 2012 campaign.

"Let's abolish the IRS, let's eliminate income tax, let's eliminate corporate tax, let's balance the federal budget and if we need a tax, it can be one federal consumption tax," Johnson said.

But how would that work?

Instead of collecting taxes from various sources, a consumption tax works from a single point of purchase. It taxes people when they spend money on any given item or service. By eliminating income tax, sales tax and others, the idea is that overall price would not go up and may, according to its advocates, actually decrease the overall tax burden on citizens.

"I think a great starting point for a debate and discussion over a national consumption tax is, let's start with the Fair Tax, legislation that has been written up and I think signed up on by 80 congressmen and women," said Johnson.
Posted by at July 16, 2014 3:33 PM
  
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