• 63°

letters to the editor

National sales tax isn’t such a great proposal
Proponents of the national sales tax fail to mention a few things. For example, most reputable economists who have looked at the idea come up with a tax rate of 28-32 percent, not 23 percent. And this doesn’t include the Social Security tax of 15.3 percent of wages and salaries! Bottom line, to cover the U.S. budget, the national sales tax will come out somewhere around 35 percent or more.
Who will benefit? Certainly not the poor or lower middle class, who currently pay from 7.65 percent (Social Security) to 20 percent in income taxes. Since most of their income goes to “consumables” they’ll have trouble even breaking even! Ah, but the upper middle class and the wealthy, they’ll do fine. There’s only so much you can spend on “consumables,” and the rest is not taxable, since there’s no tax on investments or buying rental property, etc.
And who will collect the tax? Businesses, which already complain about the cost of collecting state sales taxes, will see that cost double. Who will enforce the sales tax, since there is no IRS to either enforce or interpret the law? Anyone who thinks small businesses won’t give “discounts” for cash is either naive or just plain stupid. Many of them do it now, and those sales never see the sales tax books.
By the way, people who own municipal bonds will see their value drop around 20 percent as investors insist on full interest rates. Conversely, states and other local governments will see their costs of borrowing rise as they lose their tax-exempt status. Churches and other charities will see the same thing as their tax exempt status becomes irrelevant.
In a nutshell, the national sales tax sounds great, at least to the wealthy and the gullible, but for the rest of us it’s simply a tax hike in disguise!
ó John P. Burke
Salisbury
Flee while you can
Oh, no! Let’s hope the wild turkey roaming around near Webb Road isn’t tragically killed so that the Post can run its smashed dead photo on the front page. Remember our old friend Boo-Boo the bear, whom they introduced us to last year and then plastered his picture on the front page after his untimely and uncalled for demise.
Well, at least they haven’t given the turkey a name yet. Run away, turkey, and maybe these will be your first and last Salisbury Post photos.
ó Mark Truex
Salisbury

Comments

Comments closed.

Crime

Convicted sex offender charged with having child pornography

Crime

Rowan County woman faces drug crimes for gas station incident

Crime

Blotter: Thousands of dollars in lumber taken from Newsome Road house

Local

Locals react to Chauvin verdict, reflect on work still to do

Business

With remote expansion, outsource provider FCR looks to become an ‘exceptional part’ of Rowan community

Local

City expects $1.5 million surplus in current budget, ability to raise some wages for police, public works

Education

Enochville Elementary to host farewell event May 1

High School

High school softball: Carson beats West in a wild one

College

Seahawks QB Russell Wilson will speak at NC State graduation

High School

Wonders, Trojans facing off Monday on Cannon Ballers’ field

Local

City approves two apartment developments, more than 160 new units

Nation/World

Crowds react with joy, wariness to verdict in Floyd’s death

News

Bill seeks to end pistol purchase permits from NC sheriffs

Coronavirus

Rowan County sees 300th death attributed to COVID-19

News

Chauvin convicted on all counts in George Floyd’s death

Local

Top North Carolina House finance chair, Rowan representative stripped of position

Crime

One charged, another hospitalized in fight between cousins

Local

Bell Tower Green renamed to honor Stanbacks; Nancy Stanback receives key to city

Business

Commissioners green light additional houses at Cherry Treesort in China Grove

Education

A.L. Brown will hold in-person, outdoor graduation

Local

Granite Quarry awards FEMA contract for Granite Lake Park

Local

City to vote on apartment developments, final phases of Grants Creek Greenway project

High School

High school football: North receiver McArthur a rising star

Columnists

Carl Blankenship: Pollen and prejudice make their return