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Singapore do these things.
You do force payment of all the back tax when the property sells after the owner dies.
There is a war going on now on the American people, its a financial and cultural war.
Patrick says
You do force payment of all the back tax when the property sells after the owner dies.
This seems to be no different than debt. You know there would be fees, fines and interest attached.
Let me know if you have a different idea for a way to raise tax money that does not penalize work or commerce.
Land taxes penalizes physical assets
gabbar says
There is a war going on now on the American people, its a financial and cultural war.
No doubt about it.
RWSGFY says
Not sure if serious. Living standards in NoKo are shit.
Yes, living standards in North Korea are shit.
I don't see any causal relation between not having a national debt and low living standards.
Besides, land value is highly dependent on use/purpose, as exemplified by the drastically lower property tax if land is used for agriculture in most jurisdictions (per acre, farm land generates far less money than using the same acre for storage facility or home building; using home building lot price for taxation and collect full utilization value would immediately put all farm land at negative value).
Why not eliminate all income tax and sales tax and just have a land value tax instead?
through Constitutional Amendment, the Fed not only controls the money supply, but it charges the Government fees and interest on the debt that the government creates
It is never going to get payed back. Big buyers of treasuries don't seem to care. So does it even matter? If you say it does matter, when does it start mattering? 30 tril, 40tril, 100 tril....1 qudrillion?
The $64,000 question. Seems like it will never matter. My belief is you'll see the results as a smaller middle class and a larger and larger poor class.
I would rather have a government going further into debt each year than expanding its coffers every year.
Misc says
I would rather have a government going further into debt each year than expanding its coffers every year.
False choice. The government can limit spending to collections.
its all about cash flow ... not enough income to match expenses and the federal government does not have assets or savings to cover its expenses ...
One simple solution is to defer the land value tax until the owner dies. That is, let it accumulate as a debt to the government, but with no obligation for the owner to sell until the owner dies.
D says
its all about cash flow ... not enough income to match expenses and the federal government does not have assets or savings to cover its expenses ...
Print it.
Why tax at all? Most of the budget is borrowed.
"I pay $7.95 to a broker for a trade, it would be a great injustice to pay 50 cents more in tax for a total of $8.45! I'll be bankrupt if I had to do that! Unfair!"
Seriously, there's a tax on buying pink lawn flamingoes from Ace Hardware but you can trade thousands of shares without paying sales tax?
There's no constutional amendment involving the Fed.
16th's passage the same year the current central bank was chartered is pure coincidence...
If you or I had a printing press in the basement and it made money, would we be in debt?
If you or I had a printing press in the basement and it made money, would we be in debt?
. That's why we fight wars. Why in the flying fuck would you admit to wars and proxy wars that it was because you don't want to pay people back?
NuttBoxer says
16th's passage the same year the current central bank was chartered is pure coincidence...
No. But Fed's charter has nothing to do with amending the Constitution...
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I know that a lot of people say so that the Fed can collect interest from taxpayers, and that may be so, but why would the government even agree to that?
It seems that every country on earth has national debt, but how can this be? It always costs more to borrow and pay interest than to save and simply pay for something.
Is every country on earth stupid and/or irresponsible? Is it just that they have more demand for services than they can afford? If that's so, then it's still stupid because they have to pay it off eventually anyway. Or do they just keep rolling over the debt forever, growing ever larger? Eventually their debts will be infinite and the interest will be unpayable.