How Should Governments Raise Their Money?
There are many possible ways governments can raise revenue. However, people differ on which forms they consider legit. I have never heard anyone explain why they consider some legit and some not. Here are my justifications:
~ Roedy (1948-02-04 age:69)
How Governments Raise Money Ways Governments Can Raise Money Methods of Raising Revenue Who Considers This Legit? Me My Justification flat taxes Flat taxes are hard to wriggle out of with loopholes, but they tax rich and poor identically. They force everyone to become a tax collector, a great waste of human effort. income taxes on the poor Taxing the poor creates too much hardship for the paltry revenue it raises. There needs to be a backflow of money from rich to poor to compensate for the rich-get-richer and the poor-get-poorer flaw of capitalist economies to keep the income gap stable. A negative income tax with monthly installments would be the most accurate way to administer this. income taxes on the middle class. People should not have to compute their own taxes unless they want to. It should all be automatic and computerised at no extra charge. That would make taxes much less painful. It is outrageous that governments threaten to put you in jail or worse for failing as an amateur tax lawyer. Forcing people to compute taxes is a cruel and unusual punishment. Someday it will be ruled unconstitutional. income taxes on the rich The rich make the most money for the least effort. They have broad shoulders. They can easily afford to share. The problem is they bribe politicians to create loopholes for them. The very rich pay no tax at all. Somehow, we have to simplify the tax code and forbid such fiddles. income taxes on cor por ations This taxes consumption, pollution and waste. carbon taxes Governments currently subsidise automobiles/the road system to the tune of $0.025 a litre, ($1 a gallon), the exact opposite of what we should be doing. We need to encourage efficiency, reduce frivolous use and conserve rapidly-depleting oil supplies. The alternative is mass suicide through global warming. idiocy taxes This is more important in a country like Canada where your medical bills are covered no matter what a jackass you were that created your medical problem. I would tax thrill sports, cigarettes, junk food… The tax would be a sort of idiot’s insurance so the general public does not get stuck with the bills patching up jackasses or organising search parties when they get lost. A hiking tax should fund a free GPS (Global Positioning System) tracker to make it easy to find lost hikers. bailouts Normally not a good way to create revenue. Governments should only do it to protect jobs. investing in busi nesses The more money the government can raise this way, the lower taxes can be. I am puzzled why Americans think this the greatest conceivable sin. Why do they consider it so desirable a way for individuals to make money yet so wicked for governments? When individuals do no labour and just clip coupons, they are considered highly respectable. Perhaps Republicans are concerned that the massive funds governments could invest would give them too much power in the market place — power that would corrupt, power that would compete with big business. The positive side is it could inject the will of the people, not just the will of the wealthy into the way the country runs its businesses. lotteries Governments should not be promoting vice which they do when they run the lotteries with deceptive mass advertising. My objection would evaporate if governments refrained from advertising the lotteries and tricking people into buying worthless tickets.