Excise Tax vs. Income Tax

I haven't thought this through nearly enough, as it only just popped into my head while reading a comment to a post about reforming the Federal Income Tax, so I decided to blog it so we can kick the idea around a bit. It just might be an elegant solution to funding a properly limited Federal government. A basic truth is that taxes are often more about control than revenue. To encourage behavior, governments subsidize it; to discourage something, they tax it. Punitively taxing income and savings is counterproductive to a free market economy; if anything we should be taxing consumption. This is why I have long been an advocate of the Fair Tax; but even that is convoluted and messy in its implementation.

I would like to do away with the IRS, or at least its interface with individual citizens in any way. How much income we have, how we earn it, and how we choose to spend it, is none of the Federal government's business. What if we were to fund it entirely with excise taxes instead of income taxes? What if banks and all other financial institutions that provided banking services, were charged a small excise fee as a percentage of every transaction on the debit side of their ledger, and permit them to pass that cost on to their customers as a transaction fee? That way, depositing earnings and other income from whatever source would not be taxed. Only the act of withdrawing funds, one way or another, to spend them for whatever purpose, would be effectively taxed. No exceptions or deductions would be necessary or desired.

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Welcome To The New World Order FULL LENGTH FILM

I submit for your viewing pleasure. Open the popcorn and your mind. Sort the fact from fiction and come to your own conclusions. The way you see things is about to change.

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Thousands rally at the Capitol, voicing their opinions on the gun control debate

ALBANY - The crowd, estimated in the thousands, showed up in front of the State Capitol, rallying in support of their second amendment rights.

They chanted and held signs, saying the new gun control measures signed by Governor Andrew Cuomo and proposals from President Barack Obama are going too far.

As one protestor explained, “I have concerns about the intrusion of the government into our constitutional rights.”

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A Thousand Words...

 

...such as responsibility, prudence, duty, courage, honor, and Liberty come to mind. How I envy her ability to live in a land of the free, and home of the brave...

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