Wednesday, April 14, 2010

Tax Day

Casey Mulligan can make you believe in the old adage: If Horses were Wishes, you would get Alligators! What that means is don’t let Anyone absorb your Dream, as you will get back a Nightmare! It is overwhelmingly apparent when discussing Taxes; universal input will only bring an Extreme. I could explain how bad it can get! I like the Concept of a Life Cycle Tax which is scheduled by the Age of the Taxpayer. The whole idea revolves around a Tax without remissions of any type, where the yearly Tax is defined for All, then a Schedule written where Tax imprint is defined for the statistical earning years. This means that the burden is heaviest in the peak Earning years, while lighter is the Household Formative years. Sound Good? How about if the law assigned 104 hours of Community Service per year, which would not be discontinued until the Tax was paid, and would be accumulative over Time until Community Service equaled 60 hours per Week? Told you We would get to the Nightmare part!

Here is another look at the Tax issue. David Leonhardt simply suggests the Rich are bitching solely because they are earning more than they used to compile. Here again, One could achieve great award by a process of scheduling; assigning a set Tax per $10,000 dollars without tax remissions, then doubling, tripling, and so on as Income rises. Everyone gets to Moan, and no one gets to Protest. Much simpler in operation, but much greater in tax bite. The good part of such a Tax would be the low level of Tax accomplishable–possibly $180 per $10k. The bad part is Some would have of multiples of huge numbers, and it would almost be impossible to touch the Payroll tax without tripling the initial Tax rate; still, it is worth investigating.

David also predicts that less than 10% of all Households do not pay federal taxes; most are simply the revenues from hidden forms of tax. One also has to understand the extreme difficulty of escaping the nearly universal impact Sales taxes of States and Communities. There has been no Study which I know of which asks How Much Sales tax revenue is paid by other units of Government; this would include all Welfare transfers. It does get complicated does it not? We take, We give, We take it back! Could We come up with a simpler system?–Yes! Would We like it any better?–Probably Not! We all face the horrors of Tax Day, even when We do not know We are! Be brave, as it will soon be over for another year. lgl

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