Philosophical Musings

Philosophical Musings

Thursday, January 26, 2012

Fairness in Taxes

I have an idea. To keep the idea of fairness in taxes (which is an oxymoron & the point of my other post), why not have just millionaires pay taxes... let's say, 30% of what they make, however they make it. Everyone else gets a free ride.. no federal taxes. Of course, state, city, county, etc are still there, but those are local & generally are better managed & actually provide a service. But the federal govt has to get by on what the millionaires contribute in taxes. They have to fund the military, manage foreign affairs, interstate regulations & commerce. If a large national project is desired, like a big rail line, or an interstate highway system, they can let the people vote on it in an election.. like local govts do to raise money. If the voters don't approve, the project gets scrapped. If it does, the funding of the project is spelled out in the special funding laws that are managed & accounted for. No pork barrel. No insider deals. No revolving door.

On top of that, lets make the representatives' salary a little less lucrative.. they are public servants, after all. Lets have them get the same social security, the same health care, & the same retirement benefits as they deem adequate for the rest of the citizens.

While we're at it, campaign finance certainly needs looked at.. lobbyists & special interests have too much at stake with all the juicy govt contracts floating around. It would be a bit harder to lobby if there were conflict of interest restrictions, AND a public vote for any big projects they might want to influence the outcome of.

Oh, and i like the idea of not taxing wages.. but you'll have to put a dollar amount on that, or the corporate cogs will just put ALL their compensation into wages so they don't have to pay taxes. The big sports & hollywood celebrities, too. It wouldn't be FAIR for some jock to make $200M a year & not pay taxes, would it?

And of course, this assumes a balanced budget. There would not be much of a point in limiting the govt tax base if they just spend wildly on credit. I can't believe we made it 200+ yrs without a balanced budget amendment.

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