Scrap the Tax Code; Revamp Tax PhilosophyGovernment programs require money, and we might argue all day over how much is appropriate, but how we raise that money needs to be fundamentally changed. Our current income tax code has evolved for over 90 years, but was based on the questionable premise that productivity should be taxed. On the contrary – earnings and competitive profits should be encouraged; they are the lifeblood of a health economy. Saving and investment should be protected; they are the foundation of a stable middle class. Consumption should be taxed. First, I can accept that a regressive tax is unfair. A system where those making less pay more only accelerates the disadvantages of being poor. But why do many accept without question that those who make more should pay proportionately more? How is it “fair” to penalize success? Do we advocate “to each according to his need, from each according to his ability?” That’s a fundamental tenet of communism. Redistribution of wealth should not be the goal of the tax code. Taxation of income punishes success. Sane taxation philosophy shouldn’t work to suppress earnings. We should repeal the income tax and create a system based on consumption taxes. We should encourage earning, savings, and investment while discouraging reckless consumption that is often accompanied by debt. The Fair Tax proposed by “Americans for Fair Taxation” has continued to grow its list of congressional sponsors. We won’t hear much about this under a Democratically-controlled Congress, but fiscal conservatives should insist that any candidate for federal office support this plan, or have a full fledged proposal of equal merit. I won’t reiterate all the details available on the FairTax.org website, but I believe their arguments are sound. The Fair Tax would improve fairness and simplicity, and would increase the competitiveness of American industries at home and internationally. Together with restrained federal budgets, dramatic tax reform is critical to our economic health in the 21st century. Michael Previous: Domestic Initiatives -- Next: Presidential Oath on Bible? Not necessarily… Comment from Xpovos: Good luck, friend. You will need it. Try not to get bogged down into the semantics arguments that so many third party candidates do, keep it focused on the issues and the failures of the two major parties. I’ll see if I can send you a contribution shortly. Posted by Xpovos Nov 28, 02:27 PM # |
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