Posted by Bruce Coe on February 23, 1997 at 02:23:08:
You can bet that as soon as the holes in the income tax become rips we will see a renewed interest in a flat tax or a value added tax to support the vagaries of Congress. Maybe even as soon as the next Presidential election, who knows. Forbes had a good hold on the idea, and the attention of the public, until the assembled forces of the Republican party fell on his head.
If our government was really smart, they'd trash the income tax, and institute a VAT in it's place. Easy to accomplish in the feelgood vacuum of the abolition of the most hated function of the federal government.
So the real next question seems to be, "If the income tax is abolished what will take it's place, and how will we fight that"