Dumbassery beyond reproach regarding Tax reform. Again. Thanks both two system parties equally!
Um… thanks for that link, RealClearMarket! Apparently, National Review despite having way too many ads on it, still found that the Republican tax reform plan does little if anything to fix the root problem. Halfway through the article NR nails the problem in these words, “At 4 million words long, the tax code is the most complex it’s ever been. If tax compliance were an industry it would have 3 million full time employees!”
What of the document James Madison wrote for the US?
Oh, yes, I mean the Constitution! Yeah, Mr. Madison did not design the constitutional tax code [and spending code] to only be 44 words long for no reason. Instead, the reason he did so was the same reason he crafted it to only apply taxation to sales and to imports. That reason was because he, like all American founders, genuinely believed that every worker should keep the fruit of his or her labor. Which leads me to what exactly I think ought to be done for tax reform, and why.
The Tax Cut Plan I desire.
Basically, I am someone who favors ending all income, payroll, property, capital gain, dividend, estate, gift, royalty and self-employment taxes, all fees and tariffs and fines, and the IRS. Then I think we should have a 15% tax on sales and imports only, and even then one that’s not owed by anyone making an hourly income that’s less than $15.
Benefits to the Economy [if spending is cut by half or more first]
Frankly, this tax plan would lower tax revenue to $1.8 trillion down from $3.5 trillion, and this idea benefitting the economy requires spending to be cut by much more. But after spending is cut to $1 trillion or lower down from $4 trillion, the benefits of this will grow the economy like a balloon! Poor people and such working class people as me will stop being taxed so I for example can afford an extra $31 per week of anything I want.
But that’s not all; because eliminating the payroll tax will allow a speeding train of job creation, and the end of all deductions and loopholes means the mortgage and healthcare deductions will quit reserving housing and healthcare, respectively, for the rich; by getting repealed at the flick of a wrist.
Thus everyone would have plenty more money than is the case left over for food, drinks, healthcare, education, amusement, movies, video games, tabletop miniatures, housing, novels, comic books, and even podcast production matter.
So, when are the feds gonna get it right about what our tax problems need in order to be resolved? Anyway, thanks readers!