What I find interesting is that the author is mostly concerned about finding new ways for the Government to raise money.
No options in there for SPENDING LESS, only taxing more.
Making $60,000 last year, I was in a 33% tax bracket -- not counting Social Security and Medicare withholdings. That means, the government took over $19,800 of the money I made in Income Tax. They also took about $6,000 in Medicare and Social Security. That totals about $26,000. I received aboout $3,000 in a return, so that means the gov't took about $23,000 from me.
Damn, that is close to the $25,000 the author was talking about giving to every American. (hint hint)
A simpler soultion to raising more taxes, ad revenue, etc. would be to STOP TAXING INDIVIDUAL INCOME and provide an opt out for Social Security and Medicare.
While the poor are able too get all their Income Tax refunded to them, it would be better if it wasn't taken out to start with. Instant 20% (or so) raise!
Taxing corporations more would simply mean those corporations would pass the taxes on down and the consumer would end up paying them all anyway.
Well, you know, this money the government takes from us is used for something. A significant part is wasted of course, but most of it goes toward something most people would consider useful, even if it does not provide you with any direct monetary benfit. Like supporting the army, or interstate highways, or funding research, or even education (federal loans, for example). Also it is used to provide services to the poor, including paying welfare to those who don't work. And, you know, it provides even those of us who would never need welfare with a useful service. One reason is that otherwise we would have the world revolution that Marx promised us 150 years ago.
So those taxes may be necessary, because if it were left up to you, you would probably not be able to procure these services. Remember, Americans actually pay less taxes than most other people in the developed world.
Tax and Spend (Score:1, Insightful)
No options in there for SPENDING LESS, only taxing more.
Making $60,000 last year, I was in a 33% tax bracket -- not counting Social Security and Medicare withholdings. That means, the government took over $19,800 of the money I made in Income Tax. They also took about $6,000 in Medicare and Social Security. That totals about $26,000. I received aboout $3,000 in a return, so that means the gov't took about $23,000 from me.
Damn, that is close to the $25,000 the author was talking about giving to every American. (hint hint)
A simpler soultion to raising more taxes, ad revenue, etc. would be to STOP TAXING INDIVIDUAL INCOME and provide an opt out for Social Security and Medicare.
While the poor are able too get all their Income Tax refunded to them, it would be better if it wasn't taken out to start with. Instant 20% (or so) raise!
Taxing corporations more would simply mean those corporations would pass the taxes on down and the consumer would end up paying them all anyway.
Re:Tax and Spend (Score:5, Insightful)
So those taxes may be necessary, because if it were left up to you, you would probably not be able to procure these services. Remember, Americans actually pay less taxes than most other people in the developed world.