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commented on Matt Wuerker
over 3 years ago
Stop taxing income, tax spending (think of it as a fee paid to government for their creation and maintenance of a (hopefully) stable currency. If it bothers you a lot that people at the lower end spend a larger portion of their income then non-transferable limited tax exemptions could be granted so long as they were granted to EVERYONE (i.e. the first twenty thousand per year spent on rent or home mortgages would not be taxed, the first twelve thousand spent per year on food and non-alcoholic drink would not be taxed). Import taxes would still apply to goods coming from countries that apply import taxes to our goods. Oh, and now you can close down most of the IRS. The problem being the people that contribute virtually all the significant quantities of campaign contributions to Congress and the President would never be for this. As it is, they are free to watch their portfolios increase in value, avoid selling (and capital gains tax) and get low interest loans for living on that probably won’t be settled until their deaths for all of their spending needs.
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