What are [i]your[/i] thoughts on taxes? My gut tells me that a progressive tax is most favored in this community, but I'm curious.
I'd also like to introduce you to one of the reasons that libertarians support lower taxes. Introducing the Laffer Curve.
[url=http://example.com]http://www.cato.org/publications/commentary/lesson-laffer-curve-barack-obama[/url]
The Laffer Curve demonstrates that higher taxes don't necessarily mean higher income for the state. Think of the income tax like we think of sin taxes (extra taxes on alcohol, cigarettes, lottery tickets, etc). We establish sin taxes to 1) Increase revenue and not feel guilty about raising taxes, and to 2) Perhaps dissuade excessive use of these things, since they are now more expensive. The income tax works the same way -- at some point, people stop working because they don't get to keep enough of their paycheck.
Also, if you actually read my provided link, you'll see that nifty IRS table. That table shows that the Federal Government collected far more tax dollars from the wealthy under Reagan's tax plan (lower taxes on the wealthy) than under Carter's tax plan (insanely high taxes on the wealthy). While the Laffer Curve isn't [i]entirely[/i] responsible for that, it plays a significant role.
Libertarians believe that taxes (specifically and especially the income tax) should generally be lower. Not only does it leave a lot of money in the hands of individuals (who know how to spend it more effectively than the state), but it also does not dissuade people from actually working/partaking in an activity/buying a product.
What tax plan do [i]you[/i] support, and why?
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4 RepliesNo taxes. We should fund the government by pillaging other countries
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1 ReplyAs a Brit; I pay taxes on my earnings. I pay taxes on everything I buy. I pay additional taxes like council tax and car tax. No wonder a slang word for stealing is 'taxing'...
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Anarchy mother-blam!-ers! No rules or authority
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The explanation of the Laffer curve convinced me.
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6 RepliesTax should increase as income increases. Lowering taxes for the higher brackets never worked out for the economy, just look at Herbert Hoover and Ronald Reagan. Also on a a separate note, fines should be based on a percentage of income, not a static fee. This way the fine hits just as hard to anybody who violates it.
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Edited by PRESIDENT Trump: 4/19/2016 12:39:06 AMTrump's proposed tax plan is quite what I expect to be the best in both aiding the lower class and keeping the progressive tax capped at 25% on those making $150k/yr+ falls within this Laffer curve https://www.donaldjtrump.com/positions/tax-reform I would suggest keeping a small tax on the bottom portion, though, of around 5%. Then cutting useless things such as the Department of Education and Renewable energy projects in favour of State run education and a focus on nuclear fission (transferring to fusion eventually)
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3 RepliesFlat tax, and if you don't pay taxes you don't get to vote.
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I personally think that before the tax structure is changed significantly that all federal and state programs should be overhauled. The amount of waste, cheating the system, and overall corruption is astounding. Before you make a major change, right size the consumption.
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25 RepliesTaxes are the price we pay for living in a society that provides services for its people, particularly to those who couldn't otherwise afford a necessary service. Nobody LIKES paying taxes, but most of us understand they're necessary. Yes, I think the rich should bear more of the tax burden than other economic classes. Flat taxes unfairly burden the poor, even if they're paying the same percentage. If you're all paying 10% [for example] the poor need every penny they can get. Even if 10% of their income is only a few thousand dollars, they need that money to put clothes on their kids' backs, food on the table, warm water in the shower. Ten percent of someone who makes $400,000 is totally manageable and won't be causing them to choose between which bills they're able to pay.
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37 RepliesEdited by Panda: 4/18/2016 8:46:37 PMHonestly imo I think the people who make billions/millions should be taxed more.
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3 RepliesEdited by Indimanimoose: 4/18/2016 5:52:14 PMMy name's Michael J. Caboose and I hate taxes! [spoiler]had to do it[/spoiler] [spoiler]im not really caboose[/spoiler] [spoiler]im Phasma[/spoiler]
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1 Reply-blam!- the free world and their taxes too. You should expand on your point about money staying in the people's hands because they know best how it should be spent. I find most people don't understand that idea and have trouble accepting it. I don't know if anyone reads Hayek anymore... Regardless, -blam!- the free world and their taxes
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The wealthier, the more tax you pay.
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Edited by Immortal Tech: 4/18/2016 9:07:48 PMSELL DRUGS NEVER PAY TAXES AVOID POLICE = PROFIT ALL DAY EVERYDAY. [quote]Real gangsters run the world -blam!- what you believe I'll cut down the forest while y'all -blam!- burning some trees I'll get your family murdered for a couple of Gs 'Cause your working class money ain't -blam!-ing with me[/quote]
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Flat tax is nice. With a flat tax i don't think you should tax anyone who makes under $30,000. The Fair Tax is the plan I like most. I would have no problem paying 20% on everything I buy if it meant I could keep my entire income.
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1 ReplyTaxes need to go into 3D printing, develop it, print water, homes, food. No more famine
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Edited by Olmeck: 4/18/2016 7:00:58 PM$900 a paycheck goes to taxes for me. Then I get a $900 tax return when it's all said and done. So: $23,400 - $900 = $22,500 I'll never see or be able to use Then it goes up when I get a raise? Pisses me off.
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3 RepliesMy province is 2.5 billion in debt
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Republican, everyone should be taxed the same
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5 RepliesImplement a Fair tax .... Enough said
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2 RepliesFlat tax rate
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It's the most unintelligent state, for sure.
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1 ReplySmaller govt with lower tax.
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3 RepliesMaybe if the tax money was well spent? Let's be honest almost all of you work really hard for that money. It's one thing to take money away and spend it on the community, but I don't see the roads schools and fire departments improving do you?
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4 RepliesOnly the poor should be taxed. They are the biggest users of social programs anyway.
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1 Replyinb4caboose