A Little Tax Day Reading....
Ayn Rand wasn't the only one with a thing or two to say about taxes.
Dr. Edward Hudgins, of The Atlas Society, has penned a number of articles on the topic that are definitely worth a read on tax day.
On Tax Day, Pretend Like It’s Your Money and Get Mad
https://atlassociety.org/commentary/c...
Two Proposals to Stop the Government Looting
https://atlassociety.org/commentary/c...
On Tax Day, What if Atlas Shrugged?
https://atlassociety.org/commentary/c...
Tax Codes Reflect Moral Codes
https://atlassociety.org/commentary/c...
Dr. Edward Hudgins, of The Atlas Society, has penned a number of articles on the topic that are definitely worth a read on tax day.
On Tax Day, Pretend Like It’s Your Money and Get Mad
https://atlassociety.org/commentary/c...
Two Proposals to Stop the Government Looting
https://atlassociety.org/commentary/c...
On Tax Day, What if Atlas Shrugged?
https://atlassociety.org/commentary/c...
Tax Codes Reflect Moral Codes
https://atlassociety.org/commentary/c...
Next, the budget planning process is what's called "Baseline budgeting." What that means is you start with the amount an agency received the previous fiscal year and bump it up for the next year by an agreed upon percentage. This is supposed to account for inflation, but the percentage bump is always bigger than the official inflation rate. The excess is supposed to reflect increasing population. This constant increase without a rational justification is the primary cause of inevitable deficits.
The way to fix this obscenity is to require zero-base budgeting, meaning every dime requested has to be justified up front. The other fix is mandatory accounting at the end of the fiscal year, and an automatic IG audit for any agency that can't fully account for its budget.
Ayn Rand suggested a fee for enforcing contracts. Others, citing even George Washington, as I recall, have offered a lottery. Simple charitable support from patriots could be enough, perhaps, as we Americans are habitual donors to very many causes. I suggested renting out national treasures such as the Declaration of Independence (several true copies exist). Bill Clinton gave a night in the White House to those who contributed to his political campaigns; and that opens some possibilities, also. Perhaps several of these or others could all be done. Each would bring in some money, and all combined might pay for the entire budget of a limited government.
But each of those is, at best, a rubric, a headline to title a discussion. I believe that each of those has problems - costs and barriers - that leave them less attractive, or perhaps wholly unworkable. Perhaps we can discuss them in detail.
I'm intrigued by this idea. Your response is about the philosophy of taxes. My issue is with the amount of taxes. I think gov't spending would be much lower if there more immediacy: a) no borrowing and b) tax payers received their money and had to go to a separate office (like EFTPS site) to pay taxes. It's illogical, but I think of taxes every time we do a tax deposit, but employees probably don't look at and think about their paystubs. If we gave them a little stack of 1/10th oz gold coins and then set aside a quarter of them for taxes, it would be more immediate. It would be clearer people give us more little gold coins than we spend because of the hard work we do, and then the gov't takes a quarter of the coins. On the other side of this lower-earning taxpayers get almost all their withheld money back; yet some of them feel like they pay high taxes. We need more clarity and immediacy.
Taxman is now the state song of Virginia.
I'm no fan of the convoluted tax system we're saddled with, but as long as we have it the only "entity" that should judge and be satisfied with ANYONE'S return is the IRS. The rest of the populace be damned.
OK, with that said, has anyone seen or heard of any links to the celebrities that are part of the protest disclosing THEIR returns? It would seem to me if they are going to use their fame to sway an election in favor of their candidate and pick up a microphone in public and start spewing political rhetoric, then they should be held to the same standard they foist on others.
Also, yeah, I may have jumped off topic here. My apologies. Couldn't help what popped into my head and had to vent after what I just saw on the news this morning while on the tread mill.
I know that Milton Friedman talked a lot about capitalism, but he was inconsistent, incomplete, and incorrect on many points because he did not have an integrated philosophy.
The broadest errors are revealed in his "monetist" theories. He wanted the government to manage the money supply to ensure a steady 3% growth. By that he meant that he wanted the money supply to increase by 3% per year to keep up with the economy. Such egregious error only underscores how a supposed friend of the free market could propose the income tax payroll withholding system.
(BTW, later in life, he said that he was sorry about the income tax...)