said by GetReal :said by amarryat:I dream of that day. By extension, then all money should be taxed once and only once. However it is taxed again and again in the current system. When I get paid, I also pay taxes. When I pay someone to mow the lawn, they pay taxes on the money that I paid them, which was already taxed. And on and on.....
I don't know how that would work though... You would eventually end up at a point where nothing would be taxed because the money has flowed through the economy a couple of times.
There is no simple solution to an issue like taxation.
Maybe a consumption tax, but to prevent re-taxation, only on the end product.