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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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.