09-05-2017, 06:22 PM
(09-05-2017, 02:53 PM)Kinser79 Wrote:(09-05-2017, 01:52 PM)beechnut79 Wrote: While we all would enjoy not having to owe the IRS every year, how is that going to save a lot of money when the whole purpose of it is, supposedly, to obtain funds with which to run the government? Some have suggested replacing it with a personal consumption tax, which in effect would be like a national sales tax.
Let us just suppose that we could abolish the IRS. There are three possible taxation methods to raise funds for the government (after of course it is shrunk down to a more managable size).
1. Tariffs on imported goods. Which is a fundimentally good idea. I would strongly recommend that tariffs be very high on manufactured goods, your chinese Ishits for example or Japanese cars, and low on raw materials like oil, ore and etc. This would would provide incentive to onshore production.
2. Individual income flat tax. I'd prefer to not have one at all. Direct taxation was prohibited until 1913 for a reason, that reason is the US is not a single unified republic, rather it is a federation of sovereign states. If direct taxation on income is necessary let the states do it.
3. National sales tax. I'm not too fussed by that.
Also property taxes of various types. Georgist land taxes, in particular, do not depress economic activity the way other taxes do.