Can someone provide an in depth explanation of Ron Paul's tax plan?

[VoteRonPaul2008]

Please explain Ron Paul's excise tax plan and the effect of the US economy if we were to eliminate the income tac in echange for combination of taxes including excise tax.

[Kuldebar]

Paul has explained how he would approach the tax system many times in various video/audio interviews. Cutting overseas spending and ending subsidies while reducing taxes eventually to zero is the plan, and this can be done just by getting the fedgov back to the size it was in 1995 or so. There's no magic wand, but a systematic slashing of the empire while reducing taxes is how you can get rid of the IRS.

I'd be hard pressed to expalin the other candidate's "tax plans".

[graddium]

Essentially, he wants to get rid of the personal income tax permanently. Personal income tax is only like 42% of the feds income, and if we go back to the spending levels of 2000, we can do without it. He would get back to those levels of spending by ending our nation building foreign policy, and other "bloat" programs that put a strain on the budget.

That wasn't terribly in-depth, but I don't think it's much more complicated than that. You can view articles by Ron Paul on taxes at http://www.ronpaullibrary.org/topic.php?id=0 for further reading on the subject.

Edit: You edited your question after I replied. So here's the follow up. His plan is not an excise tax. He wants to remove the income tax and replace it with nothing. Again, read above for further details. It would have a significant impact on the economy, making it much more productive and healthier.

[Kuldebar]

The thing is, it ain't complicated. Politicians want you to think it's horribly complicated, but it is not.

The concept is pretty simple: stop spending what you don't have, stop printing money out of thin air, stop policing the world, start obeying the Constitution.

The Federal Government has grown so much since 1995 that if we went back to that level we could get rid of the 40% or so that it recieves from taxation.

Cut spending, lower taxes eventually to zero.

[Fox McCloud]

Essentially, he wants to get rid of the personal income tax permanently. Personal income tax is only like 42% of the feds income, and if we go back to the spending levels of 2000, we can do without it. He would get back to those levels of spending by ending our nation building foreign policy, and other "bloat" programs that put a strain on the budget.

actually, the income tax goes entirely towards the debt form the borrow US dollar (which Ron knows, but, for a practical "non-disturbing" explanation, he states this, which is still 100% accurate). Quite scary to think that 42% of the Fed-gov's income is spent on paying the debt generated from borrowing money from the Fed.

anyway, to quote John Marshall: "The power to tax involves the power to destroy."

few people make this correlation...as by the time they do, it's far too late.

of course, if the government had their way, 100% of our income would be given to the Federal government, then redistributed amongst "whoever needs it the most".

sounds good at first, but it's a terrible, horrible idea.