Why give in to defeatism? Solutions are possible if people persever and do not give in to the justifiable feelings of powerlessness.
>From Thomas Knapp's blog: The Boston Tea Party calls for legislation adopting an annual, regularized increase in the personal exemption to the federal income tax of $1,000 or more, and the additional application of said personal exemption to all FICA/Social Security taxes paid by employees and employers. Members of Congress (mostly Democrats) routinely propose and vote for increases to the personal exemption, so it's politically doable. Increases to the personal exemption give EVERYONE who pays taxes a tax cut, from the janitor at the local factory to Bill Gates. Increases to the personal exemption remove people from the tax rolls and withholding treadmill entirely (every time the exemption goes up, more people's income falls below the taxable amount). Applying the personal exemption to Social Security payments would address the extreme regressivity of the Social Security system. The poorest people pay proportionately the most in Social Security taxes (since the requirement to pay is capped at a certain income level in, I believe, the $60K range), and they receive the fewest benefits (due to shorter lifespan). Eliminating the income tax is the best option. Failing that, cutting it is. Replacing it with a tax that doesn't cut taxes, doesn't remedy redistribution problems, doesn't eliminate (or probably even reduce) the associated bureaucratic and administrative costs, and puts every American on government welfare is just a scam if the goal is to reduce or eliminate taxation. --- In [email protected], "big_azz_ham" <[EMAIL PROTECTED]> wrote: > > >> Though they pay more of the total of goverment income, individualy > they are not paying a larger percentage of there disposable income. > > Why should anyone have to pay any percentage of their income, > disposable or not? > > Yes, I am for eliminating the income tax. However, it's a moot point > as we have passed the point of no return. We are going to achieve > economic armeggedon in my life time. The federal debt is $8.5 TRILLION > and getting larger every year. Last year, the interest payments alone > amounted to $406 BILLION. 95% of all income taxes are paid by the > upper 50% of household income which means half the households don't pay > anything. Eventually, countries like China will stop buying our debt > when it looks like we will become insolvant. That's when the > government will crank up up the printing presses and try to print their > way out of this mess. The dollar, which is already a fiat currency, > will be become worthless. It's so predictable. > > In a word, we are screwed. > ForumWebSiteAt http://groups.yahoo.com/group/Libertarian Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/Libertarian/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/Libertarian/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
