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Comment: Re:How about import duties? (Score 1) 350

the first part of your idea, i cant stand behind. but this part

Another option is to just tax all money transactions. Anytime money changes hands just charge 0.1% or something like that. For the poor, they'll end up paying an unintended 0.2% tax on the money they make and spend. Something like the financial sector will pay a much higher effective rate, and that is something like a third of the economy.

I support fully. I even posted it on /. a few times before. If we taxed all transactions a nickel, we could raise as much money as we do now, while at the same time limiting the sting of the taxes. When you include bank transactions (think all those HFT bankers) its enormous

Comment: Re:How about import duties? (Score 1) 350

and heres how it really works

For example, start with a lump of iron ore.
Bob digs it out of the ground, sells to Pete. Pete pays the closest to a traditional sales tax, cause the value added is the value of going from nothing to something. Pete smelts it into iron, and sells it to Bob.
Bob pays tax for the value added to the lump by turning it from a lump of ore into a lump of metal. In addition to adding in the cost of the tax paid on the lump initially.
Bob works that iron into a shovel head, and sells it to Bob. Bob pays tax for the value added by turning it from a lump of metal into a shovel head, in addition to the cost to make the iron, and the price to dig it up. (which he then uses to dig up more ore).

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