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Everyone hates income taxes. Some people say that there are too many loopholes or too few incentives, that they are too high or too low or that the system is skewed (insert your favorite group here) or skewed in favor of (insert your least preferred group here) or that the IRS is abusive or too indulgent and – almost everyone is in agreement – everything is corrupt.
I know that many of these complaints contradict other complaints, but you know what? They are all true. Each. Our tax code is a jumble of contradictions and the IRS is alternatively abusive and permissive.
To the left Daily News Today, David Cay Johnston writes that "there is a fundamental problem at the heart of our government's funding model." He says there are actually two tax systems, one for "workers in good standing and retirees" and the other for "wealthy business owners". [who] operate under a different system. "The Johnson Solution? Hire more IRS auditors who will charge for the rich.
It's just silly, of course. The rich already pay the vast majority of income taxes. The richest 1% pay more than 35% of all income tax collected; the lower half pays only about 3%. These figures come from the National Taxpayers Foundation of before the 2017 tax reform law, which generally has the effect of further reducing middle class taxes, while raising them a bit for wealthy blue state residents. On the contrary, the lower half of the Americans does not invest in what is happening in Washington, because they have no skin in the game.
But even if they did, it's a good way to put thousands, if not hundreds, of thousands more Americans through the IRS audit. increase justice?
On the libertarian side, The reasons Liz Wolfe was so desperate by the burden and complexity of our tax code that she was stoned before paying her taxes this year. Although I do not recommend it at all, Wolfe wrote, to my great pleasure: "I smoked a huge joint with my husband and flew over flights to Budapest and Dubrovnik before realizing that I could no longer procrastinate or go to Eastern Europe to avoid my tax burden. "As a guy who invented drunkblogging, I do not judge. All that allows you to cross the tax season.
At today's Federalist, Laura Baxter has listed nine conservative income tax complaints, saying today should be a "day of national mourning." Three of his arguments really struck me, and in large part because they are interdependent. And not only interrelated, but probably an inextricable functionality of income tax.
They are:
• The tax system is far too complex
• The tax system favors special interests
• The tax system is easily armed
I encourage you to click on it and read it all.
Tax laws are written by people and people prefer certain people or give favors to other people in return for something that they want themselves. And this makes our income tax system – all income tax system – conducive to corruption, corruption and abuse.
Which brings us to the fair tax.
The fair tax is not a new idea, but it is an idea that deserves to be reminded to people every April 15.
The Fair Tax would completely eliminate payroll taxes and personal and corporate income taxes by repealing the 16th Amendment. Washington would rather be financed by a national sales tax – partly offset by a monthly "pre-payment" paid to each household. As described in Americans for Fair Taxation, the settlement is "an" early repayment "at the beginning of each month so that purchases corresponding to the level of poverty are tax-free." You would earn 100% of your salary at home and determine your own tax rate based on your monthly expenses.
The IRS is abolished, replaced by a tax collection mechanism that every trader already knows. The ostentatious consumption of the rich would be subject to a heavy burden of sales tax, but investments in jobs, growth and innovation would be tax free.
Other benefits include a zero compliance cost for individuals, more audits, more loopholes, and much reduced opportunities for corruption and official corruption. Perhaps almost as good is it that only legal residents of the United States are eligible to attend the conference, but everyone, from the native born to the country to the illegal alien, pays his fair share to the checkout.
For more information, you can visit FairTax.org.
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