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Honestly, I'd much rather have a consumption tax than anything else to help us crawl out of debt. Charge us for our luxury items, like our TVs, PS3 games and our cars that NEED supreme gasoline (I have all three, I'd be willing to pay extra for them if it meant having our country escape bankruptcy) and don't charge the corporations for manufacturing or the incomes of citizens. That's the only way to increase revenues without legalizing a vice like Marijuana, Prostitution, Cocaine, Internet Gambling or something similar and taxing the hell out of it.
That being said, I think we need to do both. Otherwise, I'll probably just have to move to India to work in Telephone Customer Service when our economy goes belly up.
No, he said INCOMES would not see an increase in tax.
That's the difference. He wasn't like Bush 1 who said "Read my lips: No New Taxes"
I was actually hoping he'd institute a prostitute, weed and gambling tax so we could gain some actual revenue.
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