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When people change their behavior to avoid taxes, that is too much tax.
History shows us that whatever the tax rates are, people change their behavior and end up averaging 17% of the GDP in paid taxes. 90% top marginal, or 30%, doesn't matter because the taxpayer will change their behaviors. History doesn't lie.
They used to do something like that, and it worked quite well.
Then, the politicians get greedy and started federal withholding, and that is how things got out of control.
There's a direct correlation between federal withholding, and the national debt.
Now, the spending is so out of control, if we just sent a tax bill at years end based upon what was spent, very few could afford to pay it. That, in essence, is what is broken.
"and started federal withholding"
When certain Agencies get X% amount of raises EVERY YEAR, something is defiantly WRONG.
With the obama's so called Stimulus bill, many agencies got money from it, That money was ADDED to their base which in turn RAISED the amount the % was given GREATLY INCREASED their new budgets.
I wonder WHO came up with and voted FOR these automatic increases?
FDR and the dem run Congress of course
Of course when it was tried to STOP the DEMS would NOT go along.
(CNSNews.com) – The (repub con trolled) House approved a potentially sweeping budget reform Friday that would force federal agencies to justify an annual increase, as opposed to getting an automatic increase under current budget law.
“What we are about to do could be the most responsible financial thing this Congress has done, this House has done in the whole last year,” Rep. Louie Gohmert (R-Texas) said before the vote. “It could be $1.4 trillion in cuts over the next 10 years and all we’re doing is just stopping the automatic increase.”
The Baseline Reform Act of 2012 passed the House by a near party-line vote of 235-177. However, the bill will likely have a difficult time passing the Democrat-controlled Senate."
Under current federal budget law, the amount of money a federal agency will automatically get for the next year is based on the current year’s amount, plus inflation, which is the “baseline” for the next budget year."
So what do you think that puts high earners at? (Highest marginal rate is 37%. In some states, the highest marginal rate is 13.3%).
People DON'T pay RATES. They pay REAL dollars.
Where do MOST of those dollars come from?
IMO, I would like to see a fed national sales tax and eliminate everything else. Congress can set a rate and it woud take a 66% vote from each house to increase it.
That way even drug dealers will pay their "fair share" when they buy the new Cadillac Escalade, etc.
You are "taxed' on what you buy. The MORE you buy, the MORE taxes you will pay.
And it wouldn't cost around $12 BILLION a year for the IRS
I have read NOTHING about HOW to raise those taxes.
Are you sure? Obama tagged his Obamacare individual mandate as a tax and it does not require an amendment.
The government can use the same argument and implement a VET tax. For example, everyone require to buy a VET exemption (or call it a good faith token or whatever) for 1 million dollar. If you don’t have it, you are require to pay a VET tax on every purchase.
Are you sure? Obama tagged his Obamacare individual mandate as a tax and it does not require an amendment.
The government can use the same argument and implement a VET tax. For example, everyone require to buy a VET exemption (or call it a good faith token or whatever) for 1 million dollar. If you don’t have it, you are require to pay a VET tax on every purchase.
Am I sure about what?
I said, an amendment is NOT needed. And what is a VET tax? never heard of it.
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