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F@ck the Rich — Let’s Tax the $hit out of them
invite response
2007 Jul 19, 8:28am 29,021 views 254 comments
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monkframe
2007 Jul 29, 1:56am
Missing from this discussion, and admittedly I didn't peruse every word in 249 previous comments, is corporate avoidance of taxes.
Large corporation's share of the tax burden has fallen from 35% in the 1940's to something around 10% today. Multinational corps. largely run the government and write the laws ( see the credit card bill of a few years ago, the current farm bill, the operation of our intelligence gathering) and they increasingly operate without any restrictions whatsoever.
As to all the "welfare queen" bashers: I hope there is no karmic coming back in another life to enlighten you as to what it is to be poor in America.
You're all wrong! Just kidding, however there is a solution that I didn't see posted above, the Henry George "single tax". Take a look at www.henrygeorge.org but don't reject the idea until you are sure you really understand it. It takes a little study since it flies in the face of common preconceptions and it is very easy to think you get it when you don't. Just keep in mind the principle - don't tax that which you want more of!
By the by, the FairTax is, IMHO, only very slightly better than the current mess. It is far from a good solution.
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We've often had lively debates here at Patrick.net about tax policy (flat tax vs. progressive tax, taxing wages vs. passive capital gains or consumption, what constitutes a "luxury" good vs. "staple" good, framing the inheritance tax as the evil "death tax", etc.).
Personally, I would like a much less complicated and less loophole-ridden tax structure that accomplishes the following economic and social goals, which are important to me:
While these goals are important to me, I recognize that everyone has their own priorities and agenda, which may be different from mine. Although I tend to lean in favor of a (greatly simplified) mildly progressive tax structure that treats all asset classes and income sources equally, and eliminates pretty much all corporate and individual subsidies (call it "Flat Tax Lite"), I'm open to other suggestions. I consider myself a fairly practical, pragmatic person, not so bound to one particular ideology that I'm unwilling to consider reasonable alternatives and/or compromises.
So, there you go. Have at it.
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