Originally Posted by QBNCGAR
Not so fast...the increased tax revenues are supposed to balance the budget, not line the pockets of derelicts and felons.
Step 2 in the plan is to make the GAO actually mean something. Step 3 is to shine a light on the appropriations process in Congress, and let people see exactly how wastefully our money is being spent.
Republicans talk frugality but I think their history is no better than the Democrat Party.
Democrats have historically used personal income tax as a mechanism for wealth redistribution by having the rich pay a greater percentage of their income in taxes than those of modest means. This is why our income tax system is graduated by income.
To counter this wealth redistribution, Republicans have traditionally supported deductions that preferentially favor the wealthy. Mortgage deductions are an especially sacred cow to Republicans. So is the concept of depreciation.
The give and take between the pandering parties has resulted in a tax code that not even the IRS understands in all its complexity. Most people, regardless of party affiliation, are losing faith in the belief that the income tax system is in fact, fair. I would go so far as to say I have never heard anybody make that claim, but I have never been to Terre Haute, either.
My personal favorite solution is a consumption tax. People who buy more things and services will pay more taxes. Rich people buy more goods and services than poor people so they will pay a disproportionate share. People who are frugal and save money will be rewarded for their frugality by paying lower taxes.
To take care of the poor who cannot afford basic needs it would be easy to give a tax rebate by individual based on some minimum necessary income to sustain life and shelter.
It has the virtue of taking the power of disposing favors through tax legislation out of the corrupting hands of Congress; it shrinks the need for the IRS; it throws tax lawyers out of work; and since itis simple, everybody can understand the rules and remove the suspicion of favoritism which is currently infused in the tax system.