lose your illusions...
Alright... Understanding that I have no great false hope that anything remotely like this will ever get passed, let us dive in to proposing some sexy new legislation...
What if we eliminated corporate taxes, capital gains, tariffs, and the like while instituting a flat income tax? Nothing new here, right? But what if we made the flat tax rate variable, keyed to actual annual spending plus a percentage for debt reduction or savings?
Essentially, we create a system where the tax burden is shared equally and encourage growth. But beyond that we de-incentivize federal spending, and especially deficit spending. And the taxpayers reap the benefits. The less Congress spends, the more money each of his or her constituents takes home to use productively.
Just a thought. Other than that Congress would never actually pass such laws, what do you think?
What if we eliminated corporate taxes, capital gains, tariffs, and the like while instituting a flat income tax? Nothing new here, right? But what if we made the flat tax rate variable, keyed to actual annual spending plus a percentage for debt reduction or savings?
Essentially, we create a system where the tax burden is shared equally and encourage growth. But beyond that we de-incentivize federal spending, and especially deficit spending. And the taxpayers reap the benefits. The less Congress spends, the more money each of his or her constituents takes home to use productively.
Just a thought. Other than that Congress would never actually pass such laws, what do you think?
posted by yonderincarp at 17:53
4 Comments:
Jessie, I would love to comment on what you just wrote but I reluctantly must admit I understand about 7 words in the entire blog.
Even better....
Tax spending instead of earnings.
brilliant. unfortunately, these days it seems the government is for reelection instead of the people. though i still do not understand how the flat tax does not encourage a black market for consumables.
if you change the tax laws independent of the process by which our gov't spends the tax revenues the reprecussions will be disastrous.
I like the variable flat tax rate idea though.
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