you see? ,my version of the Flat Tax treats ALL income as income. ALL income is taxed regardless of source. whether i's capital gains, returns on investments, wages, whatever. This is where Forbes and I part ways. One's entire portfolio is taxed at the same rate as is the income of everybody else. no loopholes, no exceptions.
you see? ,my version of the Flat Tax treats ALL income as income. ALL income is taxed regardless of source. whether i's capital gains, returns on investments, wages, whatever.
Where's your bill, and how does it protect my property that I put into my business and keep the government from taxing it as income when it is returned to me out of my sales revenues or as capital return from monies or value loaned or invested.
"whatever" is not a definition that is usable to separate income and profit from capital or wealth invested.
By what authority do you claim a right for government to demand that I testify against myself or gives government the right to demand my production of and to search my personal financial records and effects for evidence against me without a warrant and probable cause to do so?
Sorry, no matter how you swing it any income tax is a tool of of the totalitarian, and not suitible for any nation that claims to be free.
| 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. |