The income level of the U.S. could be 15 to 20 percent higher than today if these biases did not exist. Less Costly, More Efficient With a National Retail Sales Tax all government bureaucracy, the IRS and the Federal Tax Code and enforcement, will be a thing of the past. In short, Let he who dies with the most toys, pay the most tax. In turn, this gives more families more money which will show up in savings accounts increasing the money supply and decreasing interest rates. No more massive and intrusive record keeping.
Income tax is a thing of the past.
With corporate income tax, personal income tax, capital gains tax, inheritance tax and gift taxes out of the taxing equation, companies will flock to America instead of running from it to produce products. Eliminates Corporate Income Tax, Personal Income Tax, Capital Gains Tax, Inheritance Tax and Gift Tax. This will bring even more money into U.S. economy as ALL companies will compete on a level playing field. If workers decide to put in extra hours to earn extra income, NO extra tax will be paid. Whatever you earn is what you get to take home.