The Need for Government Funding
“Taxation is the price we pay for civilization.” – Oliver Wendell Holmes Jr.
The Problem with Existing Taxation Methods
“The only fair tax is the kind that taxes those who vote for it.” – George Will
Consumption Taxes: A Fair and Equitable Approach
Transparency: Consumption taxes provide transparency regarding the amount of tax individuals pay.
Control: Consumption taxes offer individuals control over their tax burden. For instance, an individual can choose to purchase a less expensive product, thereby reducing their tax liability.
Efficiency: Consumption taxes eliminate the need for a complex tax bureaucracy like the IRS.
Property Taxes: Property taxes are a perpetual burden on something individuals supposedly already own. Failure to pay property taxes can result in the seizure of the property, disproportionately affecting those on fixed incomes and raising questions about true ownership.
Inheritance and Estate Taxes: These taxes are levied on assets that have already been taxed once when earned or purchased. These taxes are especially harmful to small businesses and family farms.
Excise taxes: These are often used as punitive taxes, are basically consumption taxes but only on certain products, like tobacco and alcohol. These are designed to discourage certain behaviors. However, gasoline tax is an Excise Tax supposed to fund the department of transportation even though they constantly get money in other ways too.
Income Taxes: Income taxes, including social security, Medicare, and income taxes, are deducted from hard-earned labor before individuals receive their paychecks. A progressive income tax system, as implemented in the United States, is akin to income redistribution and penalizes success. Moreover, the complex tax code, with its numerous loopholes and credits, is virtually incomprehensible.
Corporate Taxes: While seemingly fair, corporate taxes are ultimately borne by consumers. Corporations merely pass on the tax burden to consumers through higher prices.
A Single Consumption Tax: The Ideal Solution
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