http://globaleconomicanalysis.blogspot.com/ Both state and Fed income taxes need to be immediately structurally changed to a broad based consumption tax.... 1) You use it ....you pay for it.... 2) Stabilizes the tax take 3) Everyone has skin in the game 4) Promotes good economics 5) Most importantly.....there is a number.... There is a number per person that is a practical, economic number.... ie $184,000 is not an appropriate health number...etc... The appropriate number is a top down number.... Each state needs to develop their own monthly numbers from a consistent and simple consumption tax.... And then a sensible per person number can be derived.... This number could be maximized by making sure that the tax take is more than competitive world wide.... Thus the seeds will be planted for the brightest American economic future.... The number is a top down number.... At the moment....the govt....is trying to print money....etc....and most importantly is not optimizing the highest form of economic structure for the USA.... The optimal form of tax for the US is a top down 10% State 5% Fed Consumption Tax..... The current approach is utter nonsense....and backwards....
Destructive, too. But government doesn't care about that. They have their own agenda... Perhaps in 5 years or so.... when it's clear that high unemployment in the US is STRUCTURAL.... somebody in government might ask, "what do we need to change to get people employed and the country growing again"? Perhaps.
.......................................................... 1000000% correct it is not only destructive.....it is utter nonsense.... This is like establishing and mandating a huge expense that is fixed....without a clue about the top down number.... ie One assigns a huge debt to a person without having a clue as to their ability to pay.... This is a very simple matter.... Assign a broad based simple consumption tax....establish a history....and then adopt a floating percentage for various expenditures....
The founding fathers imposed similar taxes. This income tax thingy is illegal and very invasive. Why should we have to tell anybody in the public sector how much money we make or have or anything else if we are paying our own way in life?
I agree. Steve Forbes called the Tax Code an "abomination". File with 45 different CPA's and get 45 different returns. The system was designed to ensnare the plebs under a mountain of regulations only the uber rich can afford to navigate (and exploit). Consumption tax is the way to go. Get rid of the income tax, which has no basis and just gives the Government another bs reason to meddle in the private affairs of citizens. Don't agree with the flat-income tax proposal. But the ideas are salient. <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/AVtVA48kYYg&hl=en&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/AVtVA48kYYg&hl=en&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>