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Of these tax changes. So no net cost to the government over time. And you have peoples income up about 10 and additional jobs so more people are working. Now that is close to a free lunch as you can get. And thats the damage done by the current tax system. All the neutral tax systems are a means of getting the three layers of tax. Some are collected at business level. Some collected only at retail. Now my favorite, the personal expenditure tax is put down your income subtract your savings pay tax and whats left . That way each year you sit down and fill out a form and you say, they took what . And then you dont vote for them again. Where laz the retail sales tax might be nickelled and dimed and you may not save all your sales receipts and realize what has happened to you. But there are conveniences of doing it one way or the other. We have to take a look at those. These are all efforts to get away from the horrible horrible effects of the income tax and moving to a more sensible neutra ....
Prosperity. And you heard alvin just say over and over again, consumption based tax. My job on the panel is to try to explain why thats important. Its important because the current tax system treats income that you sai and invest much much worse than the income you can consume. Think about it in this very simple fashion. You make some money. You pay tax on that money. Whats left . Disposable income. Aftertax income. You have two choices of what to do tw the aftertax income. You can consume it right away, or you can consume it in the future. Whats consuming in the future . Its saving and investing. Now, lets think about how the federal tax system theets though two choices. If you consume your aftertax income right away, the federal government, by and large leaves you alone. Yeah we have a federal excise tax on gasoline. We have a federal excise tax on bows and arkansas rowrows, but theres really no federal tax on your income. What happens if you save and invest your income instead . Bet ....
The whole week because i had to tbit drafts in good shape for editing and i had a huge pile of box in the back of the car and the bathing suit over in that corner, most of it was the files and we walked into this house and and if it was made for us. People talk about writers retreats and get away, when i didnt have all the notes around my desk and all the stuff im used to seeing, it gave me a clarity of thought having i got out every now and then for a little walk and mostly i spent time in beautiful setting and allowed me to accomplish and write in a way i couldnt have at home. It was a combination, really, of all of that and i think its a real journey doing a book project and, you know, very different from shorter stories and its a learning curve, that you sort of work your way through for the challenges are wonderful and the final result is the sense of satisfaction that you dont get you dont quite get from shorter kinds of stories. Anyone else . Well, thank you so much for coming. ....