Posted on 06/18/2012 9:48:44 AM PDT by Shout Bits
Send housing mkt into freefall, cool!
Good luck with that.
There’s a lot of promises made that aren’t gonna be kept.
The point is that progressives currently have it structured such that the income tax beneficiaries get to vote more taxes upon the income tax payers.
Go flat, include everyone, level the field, and they will not be so quick to increase a tax they know they’ll never have to pay.
As for completely eliminating income tax, if I thought there was a political possibility of doing that, short of a collapse of our current federal system of government and reversion to a loose confederacy of states, I’d be for it.
I'm afraid that there are only two ways that we will ever develop a constituency to reduce government spending. One is to radically reform (scrap) the tax code so as to liberate massive amounts of idle capital (and also repatriate capital from abroad). Such an effort would result in fewer (dependent) government beneficiaries and necessarily, more taxpayers.
Taxpayers are already an effective minority, which is to say: we're outvoted. Two wolves and a sheep deciding what's for dinner, as it were.
The other way to force the issue would be for taxpayers to simply stop letting themselves be fleeced - by voluntarily and broadly "Going Galt". Such an effort might finally demonstrate both the insanity and immorality of our current (socialist/redistributionist) system, creating an environment in which government and tax reform might just be possible and a return to constitutional governance once again imaginable.
I am simplifying here for the purposes of brevity, because there are many linked causes of our troubles, but they all center around the loss of individual rights and the abdication of personal responsibility to the collective, by means of an out-of-control government, and engineered on purpose by Progressive statists for the purpose of seeking power and unearned wealth.
I don't think there's a problem.
Income tax is slavery.
The proper federal tax policy would be to divide the total cost of operating the Federal government by the number of people in the country, and send everyone their bill for that amount.
Give it up. We’ve restricted this to FEDERAL PERSONAL INCOME TAX. There are plenty of other tax methods out there.
Wealthy individuals usually pay cash for their houses. They don't need to rent other people's money to buy a house.
Since it is not clear to you this means you have only examined the situation superficially. In case you didn’t notice I specified “federal income taxes” since many of the other penny-ante taxes you concentrate on are well hidden or often trivial so the average dumbass not paying income taxes doesn’t even notice them.
FICA is only “universal” when the payer is WORKING. A large percentage of those not paying any income taxes are NOT working. And FICA rarely goes up. In fact, at present it is not even being collected. And it is one tax which is generally repaid many times over when SS benefits are paid.
Since the parasitic 50% BELIEVES the income tax only impacts those who deserve to have their money confiscated there will never be sufficient numbers supporting reducing or eliminating it. This group is why the Democrat Party still exists.
The “private property” spoken of in the Fifth has nothing to do with taxation. It refers only to real estate confiscated for public use. The Constitution speaks elsewhere of taxation.
Failure to increase taxes is not equivalent to inflating the market.
People on FR arguing for increasing taxes. things that make ya say hmmmmm
So... I would be effectively paying $2000 more in taxes... and then everything would be okay? Like the banks and the governments will suddenly start behaving well? What delusion is this?
Well, the author teaches at that hotbed of intellectual thought, Ga. St.
Interesting that you mention cataract surgery.
I just had it done and can see better than I have for 50+ yrs. Anyone hesitating to have it done, DON’T. It is incredible. Painless and miraculous. I just wish I had done it yrs ago.
Getting rid of market distortion is difficult. We did it with credit cards, so we can do it with mortgage interest.
Homes will lose about 15% of their value. How many more forclosures will that mean? Also, rents will rise.
The only way to do the deed would be to spread it out over quite a few years, lowering the deduction a little each year. Of course, it would probably be best to wait for the housing market to stabilize and start improving before giving it another whack.
Income tax is NOT slavery. Such overblown and false rhetoric does not help the case of tax reduction.
“Not only does the MID encourage buying unaffordable homes and promote market bubbles”
BS. A bubble is a short term issue and MID has been around for decades.
This is nothing but the liberals wanting to hide the fact that they, CARTER, CLINTON, BARNEY FRANK, et al. all forced banks to make bad loans to minorities for votes.
This is was nothing buy a vote buying scam on the part of liberal Democrats!
“Install a flat tax of around 3% across the board, everyone pays 3% on every dollar, no deductions, period. “
There should NEVER be a tax on property, including income. That is the reason the 16th Amendment wasn’t in the constitution in the first place.
If the government claims to get first whack at my paycheck, with no rule keeping them from taking 100%, then it’s slavery.
Neither overblown nor false.
Actually the USSC has ruled that the government can change the rules on payments any time they want to, so a refund does not have to be paid.
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