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What do roads have to do with income tax? Roads are paid for by gasoline tax.
What does library have to do with income tax? Many libraries are built with private donations. Towns pay out of property tax to support the staff if the endowment doesn't include staff wage support.
The fire department has nothing to do with income tax either. It's paid by property tax at the local level . . . so is the bulk of the funding for school systems btw even if you believe in public schools.
Supporting the elderly through Social Security is also more than self-funding, not from income tax. In fact, the SSTF has been looted to the tune of $2.8T, already wasted in General Fund, the largest component of which is military spending.
So where does our income tax money go? Military spending, interest payment and overpaid contractors and overpaid public employees doing god-knows-what to make your life miserable.
PockyClipsNow
2011 Oct 14, 7:23am
Heres my dumb idea: eliminate all taxes and the fed can simply print/borrow all the money it wants.
The feds are allready printing/borrowing double thier tax revenue (and still increasing) so we are gonna be there anyway if the crazy trendline continues. When will taxes only make up 5% of the federal spending? Possibly in 10 years or less if they keep it up? who knows.
HousingWatcher
2011 Oct 15, 5:03am
Sorry everyone, but I was in Boston for the last week, so I missed the memo that we are all supposed to come up with the dumbest ideas under the sun. My dumb idea of the day willl be forthcoming once I think of it.
Reverse the current fed income tax rates. This would provide an incentive for people to earn more and dig themselves out of poverty. You know it makes a lot of sense especially you conservatives (perhaps you libertarians as well). It's true the lower income will pay a higher proportion of their income on taxes, but for most, their nominal rate will still be lower than the income brackets above them. Furthermore, it's not fair for low income people to be able to enjoy the fruits of tax paid infrastructure. It's not fair for a person with an income of 100k per year to pay a lot more in taxes nominally and percentage-wise for roads, libraries, and such than a person with and income of 20k per year. Since everyone is capable of earning lots of money unless they are just a lazy bum, a more regressive tax system rate will provide prosperity for all.