Fixing the broken tax code: a simple, effective solution

6. June 2010 by admin.

Any way you look at it, Americans are overtaxed.  There’s a tax for gasoline, and a tax for buying a car.  There’s taxation when you get paid, and taxation when you spend.  If you own a corporation, you have to pay ridiculous amounts of money for being a corporation, and if you just own a business, you have to pay taxes for unemployment funds.  If you buy a home, there’s a tax, and if you just sit in your home, there’s another tax.  If you’re in Washington State, you have to pay extra taxes for buying liquor and cigarettes, and if you want a carbonated beverage, you have to pay a special tax for that, too.  And the taxes are for one purpose: to ensure that the things our government pays for are paid for.

Now, it’s fairly obvious to everyone that despite our massive amounts of taxation, we’re still not meeting our budgetary demands (Currently, we’re facing a yearly deficit of 1.5 trillion, on top of last year’s 1.4 trillion.  To put this in perspective, our Fortune 500 only has a yearly net income of 391 billion dollars).  And despite the fact that we can’t pay for everything we want, both parties keep promising tax breaks to specific people.  Republicans want to tax everyone less, Democrats claim to want less taxation for the poor (a bizarre statement, since most truly poor people pay nothing in federal income taxes), and both sides use these arguments against their opponents every time an election season comes around.  This is especially ironic, since our progressively mounting deficit is being met with a political demand: that the person receiving the majority’s vote never win on the promise to responsibly raise taxes across the board. Read the rest of this entry »

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