Pop Quiz:
I am filthy rich and invest in numerous ventures and financial instruments. I get special tax treatment from the IRS in the way of capital gains. My taxes are reduced significantly and I live the life of Riley while the “little people” just trudge along and pay a much greater percentage to the government.
I am a small businessman and purchase raw materials and inventory for my business. Of course the government sees this as income, not a business necessity that will be sold or incorporated in a salable item later...exactly like an investment in stocks and other financial instruments that people like Romney deal invest in. I am taxes that year for these “investments” that will be sold and the net profits taxed later.
Would the “anointed ones” squeal like stuck pigs if their investment purchase was taxed at the time of purchase? I does not take an Einstein to figure that one out.
The “little businessman” is truly being screwed while the “fat cats” are being pampered by the IRS.
I am one of those small businessmen engaged in manufacturing and I feel the unjust pain each and every year I do my income tax.
EVERY AMERICAN CITIZEN should only pay the same rate of a set income tax with no exceptions to adjust the amount to be taxed. The only way to do this is to have a national sales tax that has absolutely no exemptions for anyone.
Excuse me, I am typing slower than I think....
I am paying taxes that year = I am taxes that year
I agree with you, if and because, the national sales tax could substitute for the income tax, and thus eliminate the class warfare that has ensued and kept the demagogues going since the scheme was instituted.
Under the scheme, the taxpayer is kept arguing the details of the tax code, and tax breaks involved while being robbed blind. The way to win is to be politically connected, in the know and knowing the right people, perhaps with a Harvard Law degree and/or MBA.
The Harvard guy that gave the campaign speech last night is playing the classic class-warfare caerd again this election, and I do fear that neither Romney, nor Gingrich’s plan as described in the posted article, will appeal as much to the voting demographic in this country now.
Why should there be a percentage in the first place? Do I making $10 a year get more representation from government than you making $1 a year? Do I get more services than you?
NO TAXATION WITHOUT REPRESENTATION!!!