WorldNetDaily: Senators plan push to end income tax

Why am I even surprised? This bold proposal comes from Senator Jim DeMint (R-SC), one of several Senators who extended the Republican majority in the Senate in the 2004 Federal election. Incumbent Senators don't usually propose something this bold--or this outrageous, as, sadly, I expect the Senate to find it.

The idea is simple enough: instead of taxing the earnings of individuals and businesses, tax their transactions. That way, people can save money and build equity without worrying about the taxman eating away at their gains.

Senator DeMint proposes an 8.5 percent federal sales and business-transfer tax, in order to keep his proposal "revenue neutral." Actually, his proposal will leave even more money in people's hands--money they otherwise have to send, not to the IRS, but to firms offering tax-preparation services, not to mention large accountants and software designers who shall remain nameless. Aside from the money, people will realize savings of time--and time is money in today's economy, even to an individual.

So I couldn't be happier with this proposal--even if all it does is spur the Senate to acting more boldly than the Mack-and-Breaux commission has recommended.