I don’t care much for our current tax system. And I might also have a few issues with the size and function of the government.
So I started thinking about a few ways we can get America back on track.
And while the government wants to put us against each other in every case possible – the real problem is Uncle Sam.
For starters why should everyday tax paying Americans – wealthy or poor – pay for the government to continue ballooning our debt. The record taxes we’re paying now are going where…?
Not even the government knows how many agencies exist, which is cute political banter, but the numbers range anywhere from 60 to over 400.
Maybe, those government employees need to pay more in taxes.
Let us keep more of our money and spend it how we choose. Guarantee it will trickle back into the economy faster.
It’s not rich vs. poor. It’s the public vs. the government.
Because let’s face it – the government is just too dang big. It has too many problems. As a nation if we fix our tax codes and include healthy limits on government reach we can, as The Donald says, “Make America Great Again.”
So how could we get there?
I have a few simple solutions that could help reduce government size and bring extra revenue to our economy, which would organically increase jobs and wages for everyday Americans. And profits for not only Fortune 500 companies, but middle class corporate America.
I mean, if you’re a Fortune 500 type of company you’re smart enough to figure out tax loopholes – but the real victim when you raise taxes is the middle class. It’s the middle class working American who owns a small company that maybe employs 20-30 people and makes a few million dollars a year.
Why are they paying so much in taxes? Why are they the ones being punished for creating jobs and opportunity and giving back to their communities?
This is where we need help. Tax relief. Imagine being able to keep more money as a small business owner. You could spend more money on development or marketing or even hire more people (imagine that) and pay better wages.
So here we go… a few crazy, contrarian ideas…
Taxes:
How about we eliminate the capital gains tax. Encourage investment – don’t punish it. More investments and money put into the economy will help boost activity.
Next we should institute a flat tax. Why discriminate between the wealthy and the poor – again let’s encourage prosperity.
Let’s face it – the Progressive income tax doesn’t work and is counterproductive. Look at Europe – we all know how that’s working out.
In fact, it’s more of an absurd means of taxation than a regressive income tax. It is far more logical to assume that people will work harder to get into a lower tax bracket rather than work harder to get into a higher one.
I also like the idea of an excise (national sales) tax somewhere 10% or below. Buy a home, car, flat screen TV… you’re taxed at the point of sale – enough of the VAT (Value Added Tax) taxes.
Lastly on taxes… let’s eliminate the ‘corporate tax’. Corporations are nothing more than individuals. Tax it and you’re hitting the individual twice. That’s immoral and counterproductive.
Spending:
How about we cut all non-essential government services. Do we really need hundreds of government agencies? I don’t think so… we need less government.
We should eliminate all non-defense agencies created since the New Deal. Fire the public sector and introduce them into the private sector. If they’re smart enough to spend $10 of someone else’s money for every $5 of someone else’s money they confiscate, they should have no problem finding work.
Congress:
For every new law or regulation Congress seeks to create, they must repeal 3.
You get two terms – that’s it. Congress was never meant to be a place to find a richly rewarding career. In fact, it was just the opposite. It was a place you couldn’t wait to get the hell out of so you could get back home to your farm or printing business to support your family.
Impose term limits and lower the salaries for every elected official in the United States government.
Bar lobbyists from bribing (that’s what it is) elected officials by barring the act itself.
Lower taxes for businesses that manufacture inside the United States and… Impose a hefty tariff for imports.
Problems solved.
Those changes would do plenty to not only force those Washington nimrods to get down to business, but it would also give our economy that boost it needs to get us back to the prosperous America our Forefathers intended us to be.
Regards,
Ethan Warrick
Editor
Wealth Authority
