I really like the idea of consumption tax, and most countries have a pretty serious consumption tax. It's called a value-added tax or a goods and services tax ... It's a sales tax. It doesn't tax labor, it doesn't tax savings or investment - it taxes consumption.
T.R. ReidFrance, they're the world champion at soaking the rich on taxes. And at one point, they had what they called a hyper tax, 75 percent, and Gรฉrard Depardieu and many others left the country.
T.R. ReidWe cut tax exemptions in 1986, it was the most admired tax reform in U.S. history. Congress and the president worked together then to eliminate scores of loopholes and exemptions and deductions; this made taxes much simpler, and allowed a major cut in tax rates.
T.R. ReidThe U.S. has the most complicated and difficult tax system in the world; we've made it hard to file and pay taxes.
T.R. Reid