Tuesday, September 25, 2012

Taxing your assets off!


     “If we run into such debts as that we must be taxed in our meat and in our drink, in our necessaries and our comforts, in our labors and our amusements, for our callings and our creeds, as the people of England are, our people, like them, must come to labor sixteen hours in the twenty-four, and give the earnings of fifteen of these to the government for their debts and daily expenses.
And the sixteenth being insufficient to afford us bread, we must live, as they do now, on oatmeal and potatoes, have no time to think, no means of calling the mis-managers to account; but be glad to obtain subsistence by hiring ourselves to rivet their chains around the necks of our fellow sufferers.
And this is the tendency of all human governments. A departure from principle in one instance becomes a precedent for a second, that second for a third, and so on 'til the bulk of the society is reduced to be mere automations of misery, to have no sensibilities left but for sinning and suffering.
And the forehorse of this frightful team is public debt. Taxation follows that, and in its train wretchedness and oppression."
Yes, we did produce a near-perfect republic. But will they keep it? Or will they, in the enjoyment of plenty, lose the memory of freedom?
Material abundance without character is the path of destruction.”
Thomas Jefferson

     One of the most well thought out responses to the question of taxation. Taxation as a rule should not be used against the citizens, my opinion in the matter is that if we MUST be taxed, let us be taxed on our consumed goods and not our incomes. 
     When we are taxed on our consumed goods, it makes the whole system easy to understand, the federal government still gets their unfair share to do whatever that they do with our money, and the states retain the majority of the funds to keep the local economy strong. It eliminates the freeloaders and non taxed individuals in our society, those that take monies from our government but never put back. Those that use the welfare system should have to put back in, and under a consumed tax they would have to, by buying everyday goods and paying their utilities. The people who would have not and have not payed their share of the debt they they are creating, would have to buy food and other goods.How good would it feel to not have to send any of your money straight to the federal government every April, Imagine seeing every dollar you earned on your paycheck, no with-holding. How good would it be that every citizen would have to pay their share. It could be better than the current system of.....

      Taxing the income! Ok so you go to work and you do your job, on payday you open your check to see that the government has already taken money out of your pay in what they call with-holding,The portion of an employee's wages that is not included in his or her paycheck because it is remitted directly to the federal, state and local tax authorities. Withholding reduces the amount of tax employees must pay when they submit their annual tax returns. The amount withheld is based on the employee's income, marital status, number of dependents and number of jobs. When too much money is withheld, it is returned to the employee as a tax refund.
     Well that makes it sound all fine and dandy doesn't it, it's there to help you out, so that you don't have to go through any confusing paperwork and wait for and file as many forms right, No you see at tax time what the federal and state governments do is send you a form or booklet and expect you to self incriminate yourself and say whether or not you earned any wages outside of what has been on file and have had taxes withheld from. If you do this you are a fool, you are incriminating yourself and allowing them to take even more of your hard earned money. 
Think about this. They take your money, they do not let you use YOUR money, THEY use YOUR money all year then they send you a paper saying that you owe them more money, WTF. Or they send you a piece of paper saying that they owe you some of your money but they won't pay interest for the money they used from you. If I borrow money from the bank I have to pay it back with interest, and most banks give you some kind of interest on my accounts for using your money to loan out. Doesn't it make sense that the people borrowing your money should have to pay interest on that money. That makes sense to you right? Seems legit right?

     Like I said I do not support taxation on the people of the country, But of these two forms of taxation I would endorse the tax on consumption, it just makes better sense to me. The same types of credits could be applied with taxation on consumption. If you are a single parent with  children you would get a check back from the government at the fiscal end of year, if you start a business and work from home same applies here, the same can apply to different tax credits offered by the government. If we could adopt this in the years coming by pushing for it, we could achieve a simple, user friendly tax code and procedures. 

   Taxation into prosperity can never work, with that in mind, these are my thoughts on taxation.



No comments: