The personal income tax only generates enough revenue to pay the interest on the debt. If we had sound economic policies (not one based on foreign borrowing), we wouldn't even need to collect the personal income tax.
Think of the huge interest payments you make on credit cards if you carry a balance. Which is better? To pay it off and not do that any more? Or to continue paying... and paying... and paying... more and more, until you're bankrupt?
For what!?
By the way, Ron Paul is the only candidate proposing this change to the system.
It's the right thing to do...
How many of you have grown so comfortable wearing these economic chains that you will protest against freedom?
2007-06-20 05:06:25 · 4 answers · asked by Bambi B 3 in Politics & Government ➔ Elections
Absolutely! In 1900, the average American paid 5% of their earnings, in the form of taxation, to support local, state and federal government. On top of that, public indebtedness was essentially nonexistent.
Just 100 years later, the average American now pays over 31% of their earnings, in taxes, to pay for government services which is to say that we're now paying for increased regulation over our own lives that previous generations of Americans managed to live without. To add icing to the cake of bureaucracy that surrounds us, the public indebtedness (national, state and local) is so extraordinarily outrageous that no one bothers to count it all much less do anything about it aside from pay lip service to those of us who know the negative impact of the fiscal irresponsibility that both the Republicans and the Democrats have led us toward.
That was a long sentence wasn't it?
The bottom line is that government can operate without either deficit spending or taxation. I can show you how. Why would you want to pay taxes when you can have government without taxation?
America's Founding Fathers were brilliant men but Benjamin Franklin told a lie (although I'm certain he believed it) when he said there are 2 guarantees in life: death and taxes.
That's a lie and I can prove it to you. There is a way to finance government without any form of debt financing and without any form of taxation. So again, the question is: why would you want to pay taxes when you can have government without taxation?
2007-06-20 07:00:13 · answer #1 · answered by Anonymous · 1⤊ 0⤋
I agree, the 16th ammendment should be abolished.
Mike Huckabee is touting the Fairtax which proposes first repealing the 16th ammendment. So Ron Paul isn't the only candidate proposing repeal.
2007-06-20 12:15:00 · answer #2 · answered by Steve Y 1 · 1⤊ 0⤋
Yes
2007-06-22 16:32:13 · answer #3 · answered by aviator147 4 · 0⤊ 0⤋
We need a national sales tax
2007-06-20 12:43:02 · answer #4 · answered by Greg 7 · 0⤊ 0⤋