Posted on 02/03/2005 9:54:12 AM PST by EternalVigilance
It's like fighting against the health care industry, most politicians are bought and paid for many times over and will resist any change. There really should be term limits for the same reason we have term limits on the Presidency.
It's like fighting against the health care industry, most politicians are bought and paid for many times over and will resist any change.
So put in a higher bid. Take 'em out of office and let them reisist change all they want.
"The only thing necessary for the triumph of evil is for good men to do nothing."
--Edmund Burke (1729-1797)The condition upon which God hath given liberty to man is eternal vigilance; which condition if he break, servitude is at once the consequence of his crime and the punishment of his guilt."
-John Philpot Curran: Speech upon the Right of Election, 1790. (Speeches. Dublin, 1808.)
http://www.heartland.org/Article.cfm?artId=10714
| I discussed the importance of abolishing the income tax because of its tendency to form a habit of servility in the souls of a people that accepts it. Servility of soul is bad not only in itself, it is also an open door through which will soon walk the abuses of ambitious government power. Leaders who find themselves with governmental power over a servile people will be quick to conclude that such a people exist to serve them. |
It is not a cost which can be put on a per unit basis as part of the calculations which go into price. I don't deny it, like any tax system, has a cost to the economy as a whole.
But when you set down to price your widgets there is no income tax component in that price.
Corporate income taxes are a very small component of taxes.
But when you set down to price your widgets there is no income tax component in that price.
That may be how you might choose & mark up your products. I markup mine to the lowest price I can with the taxes on profit all costs covered that I need to continue business considered. If a product cannot sustain a contribution to the bottom line it is dropped.
Corporate income taxes are a very small component of taxes.
Irrelavant as the income tax liability still must be managed and accounted for.
The planning, accounting and legal costs in doing that are not a small component of business even in a case of no tax due, and that is not even beginning to address the issues when one includes the employer's excises on payrolls and the costs attendant with those taxes.
I believe the methods of economic analysis must be used to explain the impacts of taxation schemes and that none are exempt from using these tools for understanding.
As far as the question of payroll tax incidence I think it is safe to say that the burden is split between employer and employee and the only question is WHAT is the split. I maintain it is not 100% from the wage bill though certainly high.
I do consider embedded taxes important just don't consider income taxes as embedded. But all political jurisdictions have them so they tend to wash out from economic calculations. And it is an oversimplification to maintain that all taxes increase costs when certain ones REDUCE costs. Can you imagine the impact on costs if our roads were destroyed? Or if tax cuts in funding police caused crime to go out of control? Or if education was so poorly funded that literacy declines imperilled productivity?
I have not been able to find my copy of Jacob's book yet but it is well worth your while to borrow or buy it or any of her books since you are interested in these matters.
I am saying that neither state sales taxes are included in export taxes nor VAT included in Europe's exports.
China is indeed artificially pegging the value of the dollar at an artificially high rate to encourage its exports but my comment wrt the type of product and the labor differences are still germane. However, it cannot keep doing that indefinitely since it must be buying dollars in foreign exchange markets. Eventually the speculators will extract a very high price for this policy at some point. This policy also means that it is overvaluing every other currency as well.
I thought your were talking about Kerry LoL. That is funny!!
I don't see that at all. New houses will have all the costs of the old system also until they are build entirely with components produced under the new system that would take years. And the added sales tax will not be recovered it can't be. If it were then prices in fast turning over areas would soon be wildly higher than those in slow turnover areas since the tax would be added after each sale. This means that homes in cities would soon be priced out of the reach of all but the richest.
What are the chances of these bills getting passed if they're not introduced?
I'll guarandammtee you that if workers could work an extra 12 hours a week, tax FRee, most of them would.
The Marxist inspired progressive income tax is a HUGE disincentive for most workers to put in overtime -- when the greedy hand of government is a 50/50 partner in human enterprise, the desire to expend extra effort diminishes quite rapidly. Most of us would rather go fishing or somesuch.
I'd wager that a 30% suppression of the labor supply by the Marxist inspired progressive income tax is probably a very conservative estimate.
Actually, you are wasting yours, and ours.
Go read H.R. 25, think outside [whatever] your box is, think FReedom, and then come back to the debate.
We could import enough Mexicans and Poles to meet such an increase in demand. From strictly domestics sources impossible without suspension of most of what is known about marginal utility. Ten per cent short term might be possible under national emergency conditions.
We could import enough Mexicans and Poles to meet such an increase in demand.
That would indeed increase the labor supply.
YN is complaining the prediction of a 30% increase in labor supply is too much creating too much of a surplus in people seeking additional work, when income and payrolls are no longer taxed and replaced by an NRST.
No one denies that a tax system is costly. But such a drastic change would unleash a vast series of uncertainties which will require great understanding and political will and handling. The complexities and uncertainties of such a system weigh against such a drastic change from my perspective.
Certainly these are issues which must be addressed but they are the type which are not changed without every major question being addressed and that has not been done to my satisfaction so far. Or at least as far as I am aware of the literature. There is too much which requires a faith I do not possess.
PS, for clarity demand for labor would not move as rapidly as desire for additional work.
The issue is, will the NRST replacing the income/payroll tax system provide sufficient incentive to cause people to desire to work 30% more hours, including those not working now, as well as folks already in the work force.
Not whether labor demand will increase 30% in the first year. Nobody expects that rapid a growth in industry.
But such a drastic change would unleash a vast series of uncertainties which will require great understanding and political will and handling. The complexities and uncertainties of such a system weigh against such a drastic change from my perspective.
All change is full of uncertainty and no matter how many studies or opinions may be expressed tomorrows new day will never be predictible to the satisfaction of anyone. The issue becomes more, are we prepared to make the change voluntarily today with some control, or in panic when current tax systems fail for being inadequate and implode on their own complexities.
Conditions are never just right. People who delay action until all factors are favorable do nothing.
William Feather
The issue is, will the NRST replacing the income/payroll tax system provide sufficient incentive to cause people to desire to work 30% more hours, including those not working now, as well as folks already in the work force.If you cared to know you would do a little research and find that there are several technical factors with the Jorgenson/Wilcoxen the produces such a large labor supply. One is the time endowment. It's way above what is realistic. Second is their model has the substitution effect but it doesn't have it's polar opposite, the income effect.
I'll guarandammtee you that if workers could work an extra 12 hours a week, tax FRee, most of them would. They would have to be on an hourly wage. I'm on salary, I could work 80 hour weeks (and I have, plenty) and not make a penny more.
"Any reasonable person knows that the labor supply cannot increase 30% in one year."
Any reasonable person understands that outsourcing is one part of the labor supply and it is one part that has been increasingly visible over the past few years.
I'll try this one more time. Do you or do you not believe that the labor supply will be the primary limiting factor in the economic expansion that the FairTax will create?
A yes or no answer will suffice.
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