Posted by
Rich from NW Indiana on Thursday, January 31, 2008 3:10:04 AM
Picture this. The economy is a ship, it moves forward, sometimes fast, most of the time not so much. Why is that? Because the present tax code is an anchor, and it is dragging along the bottom. Yeah, the economy moves forward, but it could go much faster if we took the tax anchor off the bottom. Read the new article by
William Buckley on his take on tax codes.
Most people don't really realize how much economic activity is destroyed by high taxes and the confusing tax code. How many jobs are not created because taxes must be paid. That instead of being invested in something that would make somebody a living. People insist that wealthy people pay high taxes, forgetting that small business owners are often those people. So instead of hiring a new employee because they invested in their business, they are writing a check to uncle sam.
Uncle sam of course will be far less efficient with that money, spending it on something the government doesn't have any business spending money on. Like the bridge to nowhere. That money is then lost, its investing power is gone forever. Nasty cycle, high taxes are, because somebody isn't working and paying taxes. Government "investments" aren't really investments.
People also don't really know how much of their income is consumed by taxes. Like all the passed on costs that are taxes in disguise. That one of the advantages of the fair tax, that cost is out in the open. Maybe then people would be more open to the huge cuts that are needed to lower taxes to open up the economy.
Spending by the government has to be cut with an axe, not just little cuts here and there. Its has to go! The cycle has to be broken, let the economy ship sail forward without the government anchor. That helps people much more then government welfare ever could.