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To: expat_panama

Eliminate withholding on income taxes. Once people who work for a living actually “feel” just how much in taxes they pay, everything else will take care of itself.

http://object.cato.org/sites/cato.org/files/serials/files/cato-journal/1995/1/cj14n3-1.pdf

Evolution of Federal Income Tax Withholding:The Machinery of Institutional Change

Cato Journal. Winter 1995.


12 posted on 12/07/2014 10:30:44 AM PST by abb ("News reporting is too important to be left to the journalists." Walter Abbott (1950 -))
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To: abb
Eliminate withholding on income taxes....

That was Milton Freidman's idea --he lived to regret it but not undo it. 

Withholding is crazy.  It means you have to pay a tax now that may or may not exist until a year later, and if you find out you never had to pay it in the first place they give you your money back w/o interest.  The tax may or may not actually end up being levied next year, but you still have to pay it now or you go to jail --even if later on the tax isn't levied anyway.

Now I'm even more confused, does this make any sense to anyone?

15 posted on 12/07/2014 12:08:52 PM PST by expat_panama
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