The U.S. to Adopt a Fair Tax

6 Sep

The basic problem in the world today is that America is consuming more than it is saving. You need to do everything you can to encourage saving and investment: Eliminate taxation of savings, the capital gains tax, and dual taxation of dividends; bring back the more attractive incentives for IRAs, and 401(k)s. At the same time, you need to do everything you can to discourage consumption. Change our tax structure to utilize a value add tax, which taxes consumption rather than savings and investing.

The above paragraph is a quote from Jim Rogers in the book Market Wizards by Jack D. Schwaeger. This conversation took place on pril of 1988! It just goes to show that history repeats itself.

No comments yet

Leave a Reply