Comment Re:The most interesting bit is about unemployment (Score 1) 780
Which sounds great until you recognize that corporations and financial institutions don't pay taxes. People pay taxes. So any taxes you levy on said corps or banks will just be passed along to customers in the form of higher prices and/or service fees. I find it remarkable that most people don't realize this, but I guess it's just too easy to beat the "rich corps are EEEVVVIILLLL!" drum.
The reality is you should tax *spending*, not *income*. If you spend less, you pay less in taxes. If you spend more, you pay more in taxes. It neatly gets around the idea that you can hide income because, unless you want to live in a shack off the grid in the middle of nowhere, you're *going* to spend money sooner or later. A 23% National Retail Sales Tax would and could replace our byzantine, impenetrable, lopsided income tax code with a system that is both workable and revenue neutral.
If you only tax spending, hoarders will get rich. They will invest their savings and at some point they will own everything. We should tax production means as well. That means taxing corporations. I am not against taxing spending, but you can't stop taxing corporations.
In fact, my point is that we should stop taxing labor. If a Robot produces some good, the corporation owning the robot pays corporation tax and sales tax. If a person produces the same good, the corporation pays corporation tax, sales tax, social security tax and the person pays income tax. That situation is easy to change. You remove income tax from labor rents and social security. Removing taxes is better than throwing subventions around. Instead of getting money to go through the government with all of the inefficiencies and associated waste, you leave money in the hands of workers. You incentive work.
Then you need to raise taxes in the other areas. What is left? corporation earnings, financial transactions and sales .