Thursday, September 15, 2011

Taxes

What's that saying..."'In this world nothing can be said to be certain, except death and taxes."

Well I say there is one tax that can go away.  Income tax.  It's not effective anymore.  The rich find ways around paying and there are a ton of ways to be "exempt" which is silly.  I say get rid of Income tax and raise sales tax.  Yes, you heard me, I'm in favor of raising taxes.  Well just sales tax if we can get rid of income tax.  Also remove tax exemption there is absolutely no need for it.  It doesn't matter if you are a school, church, or a nonprofit organization you don't need to be tax exempt.
 
Here's my reasoning.  With the removal of income tax and tax exemption and moving the collection of 'income' taxes to the sales tax everyone is equal.  It doesn't matter if you make 5,000, 50,000 or 500,000 a year you are still paying that 10% (number is arbitrary as I do not have enough data to make an accurate guess on what the new sales tax should be) on a new car.  It doesn't matter if you are an illegal alien, tourist, US citizen, or congressman you are paying the tax.  Everyone is going to buy the necessities and they are going to pay taxes on it.

I further say that people who make over $250,000 a year also get hit with a small tax.  The money from this tax is split in half.  Half goes to the state to help fund schools in which might not be getting enough funding and the other half goes towards national debt (Once the debt is paid off, if it ever happens, then all of the tax will go towards a national schooling fund that helps improve our schools that can't get enough funds).
 
I also say that one final tax be implemented.  This is called an entertainment tax.  Any profession that falls under entertainment (actors, sports athletes, musicians, TV personalities, etc...) and makes over $250,000 a year gets another hefty tax.  If the professional is not a US citizen then payer is responsible for paying this tax for his employees.  The money received from this tax will go towards three things and three things only: Updating the National Infrastructure (electric, data, voice), National School funding, and Transportation/Roads.  Why these things? Because we need them badly.  Fixing the National infrastructure will not only create jobs, but it will help get our infrastructure updated and a little more structurally sound.  Our nation's education level is sorely lacking compared to the rest of the world and the extra money would help schools that need additional funding to improve their ability to educate our children.  Finally our country's dependence on oil is absurd.  This money could go towards electric public transportation, roadways, or R&D into finding a better way to build a car without oil (see telsamotors.com for a great example).
 
Yes, it's a big change to the tax system and yes people who make a lot of money do have to pay more taxes.  But, if you don't make over $250,000 a year then you are paying the same as everyone else.  Everyone will be paying the sales tax: Churches, Government Officials, Illegal Aliens, and hell even the President will be paying the sales tax.

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