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Ashish's Niti

Niti in Sanskrit means policy/strategy/vision. This blog hosts my political views, along with news and commentary. This blog has moved here.

Saturday, August 28, 2004

National Sales Tax is a great Idea

Via Catallarchy, Neal Boortz writes in townhall about National Sales Tax as part of the Fair Tax Plan.

The plan replaces Federal Income tax, and payroll taxes with a nation wide tax on retail sales. The plan is very efficient (no tax returns to file), fair to everybody (it is not progressive) including poor as,

1. They get their entire paycheck.
2. Even with the sales tax, and considering the drop in prices, they’ll be paying essentially the same or less for everything they buy.
3. They get a check from the federal government every month to rebate any sales taxes they had to pay on life’s basic necessities.

I think it is a great idea for India to adopt. It will reduce black money in the system, reduce corruption and high-handedness of the tax officials and give tremendous boost to growth because of its non-progressive nature.

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