The Income Tax

I think I made the point clear in my previous post that I am against the income tax system. The questions that should enter one's mind are "why" and "what would you do about it?"

"WHY?"

I will answer "why" in two ways. I will first try to show the impracticability of the income tax and then point out the immorality of the income tax.

IMPRACTICAL

The economy is in recession today because we have spent money like crazy and we didn't produce and save enough to back that spending spree up (the Federal Reserve and other government action perpetuated the spending spree, but I will lay my charge against them in other posts). So, we need more production and more savings in order to claw ourselves out of the mess we are in. What does the government do to help? It takes from its citizens the very income that they use to build the savings that is needed to help get us of this mess. How does that make sense?

IMMORAL

No one would think that it is morally OK for someone to steal their stuff no matter how "nobly" the thief put the looted goods to use. However, we seem to be OK with it when our government does the very same thing. It is flat out wrong for anyone to forcibly take the hard earned fruits of your labor, including the government.

Don't fool yourself. The fruits of your labor are taken from you with the threat of force. If you do not believe me, try not paying your taxes and tell me if people with or without guns and hand cuffs come to forcibly remove you from your home.

"WHAT WOULD YOU DO ABOUT IT?"

I would immediately seek to repeal the 16th Amendment. I would seek to eliminate all corporate and income taxes and all payroll taxes.

The question would then be "how could the government make any money?" If you look at the tax receipts from 2007 ($2,568.2 billion) and eliminated the corporate and income tax receipts from that number ($370.2 and $1,163.5 billion respectively) we would be sitting with more tax receipts than we had in 1990 ($1,032.1 billion). Was government just absurdly too small in 1990? I don't think so and my answer to "how could the government make money?" would be, it makes too much money as it is!!!

Now, the government still makes money through various other taxes such as Medicare and Medicaid taxes, Social Security taxes, and excise taxes. I would also seek to scrap these and replace them with what is know as the "FairTax" or a consumption based tax.

I will seek to explain my support for the FairTax in another post. However, I would like to mention that I think that the 23% sales tax rate under the FairTax is too high. The FairTax seeks to fund government at its current level. Well, the government's current funding level is too high. Therefore, government spending needs to be cut drastically so that the 23% sales tax rate can also be cut drastically.

My final answer to the question "what would you do about it?" is the same answer I hope to give to every question like it during the campaign, I just want give you, me, and everyone freedom! We desperately need to be freed from the oppression of the income tax system. We need to take action and take it now before the mess we are in gets out of control.