THE TAXMAN COMETH
I’m heading back to Indianapolis today after spending the last few days getting caught up with friends, tending to legal matters and visiting with my accountant. And after doing my taxes again this year, I have re-affirmed my disdain for the federal government and how it spends the money it takes from me. What makes matters worse is the more I make (i.e. the more a productive and contributing member of society I am) the more this government wants to take from me.
I understand more than a lot of people that taxes are the price we pay for civilization, but can’t we be a little more civilized about the way to do these things.
If I had my way, I would eliminate income taxes altogether and replace them with a “federal transaction fee” on all goods and services. The rate would fall somewhere between 3-5%. But every time you made a retail purchase, a car a house, food, lawyer, doctor, etc., you would pay the FTF. This way you only pay the tax when you spend the money. And we as Americans like to spend money as shown by the fact we have so much debt.
Unlike the “fair tax” which taxes only new purchases at a rate of about 27% by some estimates, the FTF would have a much broader tax base, thereby translating into a much lower rate. Everybody would pay it, because everybody spends money.
No one should have to pay more in taxes simply because they are more productive than someone else. You would get to keep more of your own money and a lot of wealth would be freed up and tax code made much simpler. Yes, there will always be tax cheats, just like there will always be poor people. A pretty famous guy once said that.
And there is no reason why such a system, for a few percentage points more, couldn’t be adopted at the state and local levels in exchange for the elimination of property taxes.
And for those of you who think I am just acting as some spoiled little yuppie (or buppie in my case) who is mad that he has to pay the federal money, your damn right.
The federal government didn’t go out and work 80-90 hour work weeks, I did. The federal government did not train and study for years to get marketable skills which are in demand in the workplace. All the federal government did was go out and run up a bunch of bills and get involved in a war that I didn’t ask for (I ordered Afghanistan and Bin Laden, not Iraq and Saddam Hussein) And don’t even get me started on Social Security, Medicare and Medicaid.
To the federal government, all a single, able-bodied, strong capable young man like me is good for is producing income which it can take away. So when you put it in that perspective the only difference between me and my ancestor from 200 years ago is that he wore chains.
Talk to you tomorrow.
