Greenspan Talks Economics on Hardball

Greenspan Talks Economics on Hardball
http://video.msn.com/video.aspx?mkt=en-US&brand=msnbc&vid=e6ed2f93-a265-433d-bd08-45ee090e6edc

Greenspan talks about current issues such as Medicare, The Fairtax, Taxes, and the current state of our economy.

>>11
The goods and services poor people use would be taxed proportionally less than the goods and services rich people use. A poor person goes to the market and buys fruit, fish and vegetables from a stall. A rich person drives across town to a posh restaurant which imports crabs from alaska and wine from Burgundy. They are not just more expensive, they require more state services per $ to obtain and thus the rich pay more tax as long as they are more of a burden on the economy.

If the rich don't take from the economy and instead re-invest their money then there is no reason to tax them. Likewise the poor can make savings to send their kids to college without the taxman pinching a slice.