In my opinion, Income tax in and of itself is counterproductive to our economy....regardless of who pays what percentage.
We should move to a federal sales tax system, and there are numerous reasons to do so.
LOGIC: If you take my money before I get paid....you can only take it once.....So the fed takes it, and spends/wastes it.....it's gone forever.
....But if we were on a federal sales tax system...I get paid, I go buy a product or service, it gets taxed and I created jobs....the waitress I just tipped buys something, it gets taxed, she created a job....so on and so forth, eventually every dollar gets taxed back into the system but at the same time you created jobs and revenue for the government to operate.
Income tax, takes money directly from consumers and much of each dollars' economic potential is wasted, because the consumer doesn't get a chance to put those dollars back into the economy.
2007-07-12
03:05:07
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9 answers
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Anonymous
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Politics