In March 2013 the IRS passed it's 100th year of existence. At such an age, wracked with so much corruption and morbidly obese with bureaucrats and regulations, isn't it about time the IRS be closed ?
Income taxes are the penalty we pay for earning money in excess of what the government considers poverty. In the decades when taxes were considerably lower our economy blossomed because entrepreneurs, investors, and workers could use their earnings to buy and invest more. Buying and investments cause economic growth which is good for everyone living in a free market including the tax collectors. When we willingly spend and invest more, more taxes are collected. With excessive tax increases there are fewer incentives for the risk takers. Rather then using their capital to start new businesses or expand existing business, the folks with money shelter their wealth away from the tax men. In Europe and Japan recessions have become common, taxes extremely high, and business starts low. France has a 75% tax rate on the rich. Our corporate tax rate is at 45 % which makes it the second highest in the world.. The obama administration insists our increased taxes will lead to more government investments which will somehow spur the economy. This is an absurd myth less believable then the tooth fairy or Santa Claus. Believing any government has the ability or willingness to grow any segment of the economy with tax payer monies is absolute rubbish. There are too many examples of fraud, waste, and total mismanagement of collected tax revenues by the federal government to justify any argument the government deserves anymore of our taxes then it takes to maintain national defenses.
Even at the state level, low tax places like Texas are prospering while California, Maryland, New Jersey, and other taxaholic states suffer economically.
Soon the IRS will be the thugs collecting for the socialist Obamacare scheme. Before it's 101st birthday shouldn't we insist a more common sense and less bureaucratic agency replace the IRS dinosaur ?
Income taxes are the penalty we pay for earning money in excess of what the government considers poverty. In the decades when taxes were considerably lower our economy blossomed because entrepreneurs, investors, and workers could use their earnings to buy and invest more. Buying and investments cause economic growth which is good for everyone living in a free market including the tax collectors. When we willingly spend and invest more, more taxes are collected. With excessive tax increases there are fewer incentives for the risk takers. Rather then using their capital to start new businesses or expand existing business, the folks with money shelter their wealth away from the tax men. In Europe and Japan recessions have become common, taxes extremely high, and business starts low. France has a 75% tax rate on the rich. Our corporate tax rate is at 45 % which makes it the second highest in the world.. The obama administration insists our increased taxes will lead to more government investments which will somehow spur the economy. This is an absurd myth less believable then the tooth fairy or Santa Claus. Believing any government has the ability or willingness to grow any segment of the economy with tax payer monies is absolute rubbish. There are too many examples of fraud, waste, and total mismanagement of collected tax revenues by the federal government to justify any argument the government deserves anymore of our taxes then it takes to maintain national defenses.
Even at the state level, low tax places like Texas are prospering while California, Maryland, New Jersey, and other taxaholic states suffer economically.
Soon the IRS will be the thugs collecting for the socialist Obamacare scheme. Before it's 101st birthday shouldn't we insist a more common sense and less bureaucratic agency replace the IRS dinosaur ?
I have always favored: a flat 10% Tax across the board, no exceptions, no exemptions; and the elimination of the IRS.
ReplyDeleteThanks Butch, you are spot on !
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