Posted on 07/10/2014 5:40:08 AM PDT by 1rudeboy
July 1 might go down in history as the beginning of the end of the comprehensive, progressive income tax. A progressive income tax, in which the government attempts to tax all labor income and capital income, such as interest, dividends and capital gains more than once, cannot help becoming so complex that it eventually dies of its own weight. This is particularly true when the government attempts to tax the worldwide income of its “tax persons” rather than the income located in its own territory. The complexity is caused by the never-ending attempt to define what income is and what should be exempt (loopholes).
Press reports now state that the U.S. tax code is more than 77,000 pages and growing at a rapid rate. [] When laws are too complex and increasingly subjective in their interpretation, it inevitably leads to corruption. All but the willfully blind now understand that the IRS has both become corrupt and incompetent.
On July 1, the IRS extended its reach to perhaps 100,000 foreign financial institutions and millions of other non-Americans who receive or make payments to Americans. This global power grab was the logical extension of the effort to tax the worldwide income of all Americans, which requires the IRS to know about all payments to and from the United States and which financial institutions are involved in the transmittal and holding of accounts. The paperwork is unending and incomprehensible. (If you think I am overstating the case, download the new “W-8BREN-E” tax form from IRS.gov, which certain foreign recipients of U.S. payments are required to complete. Even tax lawyers tell me that it is nearly impossible to fill out the form without perjuring oneself, owing to the form’s endless ambiguity and lack of clarity.)
(Excerpt) Read more at washingtontimes.com ...
ping
bump
We’ll never fund the Empire with a flat tax. And one that leaves out capital gains, interest, and dividends? Good luck with that.
if i were an irish citizen that received some money for doing some work across the internet for an American, why in the world would i care about some forms the US wants me to fill out??
seriously. citizens of other countries do not live under US law. it’s beyond ludicrous to think anyone outside our country is bound by our laws.
if it were the case, then saudis could start issuing warrants/kill orders for US citizens violating their laws while having never set foot in saudi
the level of acid you’d have to do to think these laws make any sense is just staggering
We can’t fund the empire no matter how many taxes are imposed given Congress’ propensity for out of control spending. We hit the wall a long time ago.
Somebody should tell the Pentagon.
I hate satire pieces.
Better yet, get rid of the IRS and go with the Fair Tax.
Because if you DON'T fill them out, the IRS will dock your payments by 30%.
How do you like them apples?
Representative apportionment is the better solution. Congress decides how much money to raise via taxes. That amount is divided in two. One half is the Senator’s amount, the other half is the Representatives amount. Divide each of these down by the number of Senators and Representatives to determine the per Senator and per Representative amounts.
Each state is then billed for their two Senators and the number of representatives times the representative amount. The States then can determine how to collect taxes that best suits their state. Some states may want to tax property, others income, others sales, or a mix.
A corrupt Federal prosecutor will extradite him and put him in an American prison. And the idiot Europeans will allow it.
I'd agree, except for the concept of a "Prebate", which is supposed to be a minimum income available to low-income people. The value of the prebate is determined by Congress, and once you do that, you're right back where you started from. Either remove the prebate or can the Fair Tax.
I'll go with Milton Friedman's 17% flat tax on all sources of income. If you have wage, interest, dividend, or capital gain income, the distributing institution withholds 17% and sends it to the new Tax Collections department, since the IRS is now defunct. Your new Federal Tax form now fits on a postcard and the Tax Code is one sentence long: You owe us 17% of all income. Done.
“....The States then can determine how to collect taxes that best suits their state. .....”
ding ding ding we have a winner!!
It is and never was the federal gov’t intended purpose to have any contact with an individual. the federal gov’t deals with the states......
In such a case the prosecutor is not acting within the purview of his job and becomes fair game for retaliation.
“Oh, look at what the IT folks found on his computer. And she can’t be more than 10 years old!”
No, I’m not saying that. I’m saying a flat tax will not fund the military we demand.
That's a good thing. A flat tax would mean everyone has a stake in the game. People would want to see some connection between what they put in and what the gov delivers. Starving the beast, global gov and war mongering, might be the only way of getting govs to do what they're supposed to do. That would be to benefit the lives of their citizens.
Not to mention redundancy... ;-P
I do not believe that the current IRS will allow the progressive income tax to fall - just as our political 'masters' will not allow it to fade away. There is far too much power in stealing from others based on their perceived (by you) ability to pay.
It would, IF we cut our spending!
Our military costs should be cut to a level that would allow us to defend the US from attacks but with enough room to allow purchase of developments for future needs.
It does not need to include every possible, conceivable piece of military hardware that a used-car salesman slips into a Congressman’s pocket.
More importantly, you want real, American economic growth? Stop funding all the research for every single possible, conceivable piece of military hardware that the military doesn’t want nor ask for - as we do today.
Some engineer makes a suggestion, some arms-dealer calls a Congressman and VIOLA - the US Government opens a spigot of cash to start developing something that we might, maybe, could possibly sale to the military, some billions of dollars later.
Let’s do it the old fashion way, see the Thompson Submachine gun - developed and sold completely in private!
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