Wednesday, February 3, 2010

...On Taxes in General

First of all, I hate taxes but I realize that they are a necessity for the successful functioning of the government.  Remember that there was no federal income tax before the first quarter of the twentieth century.  Our founding fathers would be rolling over in their graves if they knew how confiscatory the federal government has become.  The government has only a few responsibilities as outlined in the constitution.  The federal government should conduct foreign policy, provide for the national defense, and maintain a stable currency...and that is about it!!!!

The current progressive system of taxation is criminal and in my opinion, illegal under the constitution.  Unfortunately the Supreme Court did not agree and thus it became the law of the land.  Since abolishing the income tax altogether is probably out of the question, we need to explore some more "fair" (and I hate to use that word) methods of taxation.  Everyone needs to have some skin in the game and thus pay some share of the tax burden.

The "Flat Tax" is a very intriguing option, say 18%, no deductions for anyone.  This would be damn near impossible to pass.  The "Fair Tax," a consumption tax, also sounds good but it too would be impossible to pass.  So how about a combination of the two?  See the next blog for these ideas.

1 comment: