In a fully free society, taxation—or, to be exact, payment for governmental services—would be voluntary. Since the proper services of a government—the police, the armed forces, the law courts—are demonstrably needed by individual citizens and affect their interests directly, the citizens would (and should) be willing to pay for such services, as they pay for insurance.
The question of how to implement the principle of voluntary government financing—how to determine the best means of applying it in practice—is a very complex one and belongs to the field of the philosophy of law. The task of political philosophy is only to establish the nature of the principle and to demonstrate that it is practicable. The choice of a specific method of implementation is more than premature today—since the principle will be practicable only in a fully free society, a society whose government has been constitutionally reduced to its proper, basic functions. – AYN RAND
A possible way to start on the elimination of the income/inheritance tax right now would be to fight for the immediate adoption of a universal exemption of at least 51 percent of everyone’s income from federal, state, and local income taxation under all circumstances.
Opponents of tax cuts do not want justice. They want redistribution of wealth
The motivation of the California Wealth tax is darkly malevolent. This isn’t even a normal looting. It’s intended to destroy.
More than a stunning tourist destination or the birthplace of Cristiano Ronaldo, Madeira is living proof that competitive tax policy can transform a remote, peripheral, resource-poor region into an economic success story.
Tariffs distort market signals that would otherwise lower costs, raise competition, and motivate reinvestment.
The civilian workforce makes Washington D.C. “the nation’s single largest employer, with even more workers than Walmart, Amazon, or McDonald’s.”
If Mr. Trump completely eliminates the IRS and the hated income tax along with it, there may be a reasonable case for increasing tariff rates.
A tax on unrealized capital gains constitutes an end-run on rights of private property and subverts fundamental market principles by taxing assets not yet sold or converted into income.
If Trump’s goal is simply to eliminate the federal income tax, then he should advocate for doing that and only that.
A group including about 250 million- and billionaires calling themselves Proud to Pay More (P2PM) advocated the imposition of wealth taxes in an open letter to the “luminaries” meeting in Davos, Switzerland.
Increasing taxes threatens future production to the detriment of all.
If musicians and concertgoers are upset by the so-called “deceptive” practices of a “monopoly” like Ticketmaster and want the government to do something, they actually may want to redirect their attention towards another entity with monopoly power that also attempts to hide fees. That entity is … the government.
The tax code’s complexity has created an environment in which tax-preparation services, lobbyists, favored industries, and politicians thrive, while taxpayers struggle to make sense of ever-changing rules and regulations.
The Biden Administration’s 2023 budget bill proposing a “billionaire tax,” imposing a 25-percent minimum rate on the “unrealized capital gains” of the wealthiest Americans is unconstitutional.
The uniformity-of-profit principle sheds light on the effect of business tax exemptions and their elimination.
Joe Biden’s demagoguery, arrogant impatience, and dictatorial manner do not and cannot change reality. At the end of the day, his policies can only lead to a financial and economic disaster.
The thought of living within a balanced budget sends a frightening shiver down almost every politician’s spine.
Politicians always promise that public investment will return more in benefits to taxpayers. But it’s not true.
The Democrats’ $1.9 trillion “American Rescue” plan, which has little to do with rescuing and everything to do with using the pandemic as an excuse to move the country closer to statism. The latest $1.9 trillion addition to the federal debt is best described as a left-wing slush fund.
Populism is what happens when a republic becomes a democracy, and politicians must curry the favor of voters in order to win office.
Leftist politicians who want to get into our pocketbooks are beginning to argue that the COVID-19 pandemic is the best argument for a wealth tax.
The bottom line is that there is nothing historic about this budget, or these cuts.
Repealing the inheritance tax means that substantial sums that would otherwise disappear into government spending programs will instead be used to make capital investments.
It’s increasing by $1 trillion a year.
A Note on Asset Prices, Wealth, and Inequality
Milton Friedman made the observation that the true size of government is measured not by how much it rakes in currently in taxes by how much it spends.
Is a proposed federal wealth tax on the ultra-rich the solution to America’s budget-deficit woes?
George Soros and his son Alexander Soros, Facebook co-founder Chris Hughes, heiress Abigail Disney and “Anonymous” are free to give their wealth to politicians right now.
There’s nothing moral, “fair” or “progressive” about a graduated (communist) tax schedule.
Do we leave (wealth) in the private sector where the market decides? Or do we subject it to corrupt politicians?
Some 45 percent of American households, nearly 78 million individuals, have no federal income tax obligation.
The world of plunder can be replaced with a community of free people pursuing mutually beneficial peaceful production.
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