Posted on 10/15/2017 6:39:44 AM PDT by WWII_Historian
The long-term tax legacy in America is as such: the second and third items of the Communist Manifesto of Karl Marx – the progressive tax and the inheritance tax – are fully and legally implemented.
Trump's plan leaves the second item of the Communist Manifesto intact (a progressive tax with some modifications) but terminates the third item – the tax on inheritance.
(Excerpt) Read more at americanthinker.com ...
What Marx really hated were protectionist tariffs. More tariffs and less income taxes would save the USA.
Well, is a fifty percent reduction in items of the manifesto in place, worth the effort?
Exactly - seems that for every step Trump takes forward, there are those who bitch that he ain’t moving forward enough...
the tax on inheritance.
The problem with the getting rid of the inheritance tax is it sounds so good to the ears. Look at the net change, not the shiny...........................
State inheritance tax are a another matter, you still have to do the accounting. So you got rid of nothing.
Representative apportionment of taxes.
Take last years spend, divide it down to a per representative and per senator charge. Add up the charges for each state and require the states to pay the tax before they are allowed to spend money on any state programs.
States get to decide what is the best tax collection method that works for them. Balanced budget each year.
Could we abolish income tax and use tariffs instead? How high would tariffs need to be?
Yes, tariffs could replace the income tax. I am not sure about Social Security and Medicare which are funded separately through pay role deductions. That may have to be addressed separably. But the general fund could be funded via tariffs.
Marx also liked beer (arrested for drunkness), therefore beer is bad?
Karl Marx was very smart and his system was well thought out. Yes a few bugs, but he was working on it when he died.
Like some versions of Windows, the BSD may have been a feature.
Take last years spend, divide it down to a per representative and per senator charge. Add up the charges for each state and require the states to pay the tax before they are allowed to spend money on any state programs.
That would not be in accordance with State Sovereignty. Reverse the deal as far as States paying themselves first. Then what is left over the Fed gets. Some states will have a degree of difficulty paying the government as their population can barely afford the State Government, but their Sovereignty will be preserved.
A better method IMHO would be to use the Lord’s tax, tithing. Everyone pays ten percent to their individual one of fifty states. Then each State pays ten percent of that to the Fed. That would result in lower taxes for everyone, including states and no more blackmail by the fed or heavy handed tax policy governing sovereign States. The States have control rather than the other way around.
That would be the only tax. No property taxes, no liquor taxes, tobacco taxes, etc, etc, etc, etc. Towns and cities might find it difficult to live under a State that would have the power to decide it they could afford you.
Or, we live with the present system where we are to a great extent dependent on God above for the ever increasing growth to meet our tax obligations. A system that taxes every dollar in the economy so many times it is an amazing miracle that any of us survive so we must be grateful and give credit to God above.
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I have repeated this often. Getting rid of the inheritance tax is revenue enhancement. What you inherit then will now be subject to income tax when you sell it. Right now the large amount is exempt and gets a stepped up basis in the estate and when I sell it, I pay no income tax.
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As if the 2x+ govt taxation is *better*...
Damn, can we NOT get a straight Fair Tax (no prebate, and lower than 22% [govt doesn’t need revenue-neutral, it needs to tighten its BELT]...say 10%) and be done w/ the social engineering and blatant theft?
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That would not be in accordance with State Sovereignty. Reverse the deal as far as States paying themselves first. Then what is left over the Fed gets. Some states will have a degree of difficulty paying the government as their population can barely afford the State Government, but their Sovereignty will be preserved.
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Concur, but I would take that down to the personal level as well (me & mine before govt at ANY level).
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A better method IMHO would be to use the Lord’s tax, tithing. Everyone pays ten percent to their individual one of fifty states. Then each State pays ten percent of that to the Fed.
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10% of *what*? Their income (doesn’t cover everyone, still economic slavery)? Wealth (more govt camel nose)?
Sorry, but Fair Tax is the way to go (completely voluntary, EVERYONE skin-in-game).
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