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Raising Taxes Will Not Balance The Budget

Learn Liberty explains why higher Federal tax rates often mean LOWER tax revenue.

submitted by: 5Cats
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Raising Taxes Will Not Balance The Budget. Learn Liberty explains why higher Federal tax rates often mean LOWER tax revenue.
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Hits: 5427 | Favorites: 1 | Emailed: 0 | Rating: 2.4 | Category: News & Politics | Date: 11/16/2012
 
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Stormwolf
Female, 40-49, Western US
 74 Posts
Saturday, November 17, 2012 4:16:24 PM
Something else no one seems to consider is Charities. You see, a lot of rich people don't donate out of the goodness of their hearts (though some DO), but rather the health of their bank accounts. A sales tax would completely wipe out ANY incentive the rich have to donate, thus again screwing the poor, and many of the flat tax systems I`ve seen proposed will also remove a lot of these deductions.

Unfortunately, taxing the rich more has historically never worked. They are too attached to their money, and will go to any extreme to keep it. This includes things like getting rid of employees if they own a business, to cutting back hours or pay rate for their in-home domestic help.

Yes, rich people -should- give out of sheer human compassion, but the reality is that, often, the richer you are, the more you want to keep what you have. Charities and low-rung employees are the first to suffer when the pressure is put on the rich. That`s the sad fact.

5Cats
Male, 50-59, Canada
 26667 Posts
Saturday, November 17, 2012 12:57:03 PM
@CrakrJak: "flat tax" and "sales tax" are completely different!

Also: In Canada we're paying about 12% Sales tax on MANY common items, including foods...
The Conservative Party lowered it by 2%! Hooray!

Trying to fund the ENTIRE US Government (which is what @Shelworth seems to be saying) with a mere "sales tax" is insane... it would need to be about 30% and apply to virtually EVERY item sold.
The poor would pay a HUGE % of their income on sales tax, the rich? Tiny %... Just like now! Only worse!

And "gasoline tax"... zomg! Even worse in terms of "harm the poor"... (I think we agree on that though).

@OutWest: "flat tax" could work... but then again it could backfire completely. It would require honest <politicians> to work, and how many of THOSE are around these days?

OutWest
Male, 50-59, Western US
 548 Posts
Saturday, November 17, 2012 9:24:14 AM
I think if we are all honest, raising taxes has nothing to do with increasing revenue for our government.

Do any of you, that are for raising taxes proportionally higher on those that make more than you, really believe that is fair taxation?

If so, then your logic is they have more so let's take more to make the outcome of our income fair? Rather than let`s be fair and all pay the same proportion of our income to a shared community.

krw888
Male, 50-59, Canada
 162 Posts
Saturday, November 17, 2012 9:12:37 AM
Although I believe simplifying the tax code will benefit everyone, the rest of his argument doesn't make sense.

CrakrJak
Male, 40-49, Midwest US
 17311 Posts
Saturday, November 17, 2012 6:32:39 AM
5Cats: This is where I disagree with you Steve Forbes shown years ago a 15% flat tax, with an exception for food stuffs and the poor, those getting food stamps, is not a bad idea.

It's easier to collect, kills the income tax completely (except for FICA), massively reduces the size and bureaucracy of the IRS, and since the rich and corporations buy more they`d have to pay more without any loopholes to dive through.

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