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What About Taxes

Kevin Raymond October 17, 2011 Freedom by Friday 5 Comments on What About Taxes

The 99% Solution

There are lots of numbers being thrown out there. You hear that the top 1% pay 40% of the taxes collected by the Treasury and that the bottom 50% pay nothing. It’s all malarkey. We all pay taxes and lots of it. Few talk about the burdens of sales tax, property tax, vehicle license fees, fishing license fees, tolls…the list is endless. Taxes are not a bad thing…if you get something in return. That’s the problem. In places like Sweden taxes are exorbitantly high by our standards…but the population bears them..hell they even vote for them. Why? Because they live in a nanny state and they like it. Our problem in the US is that we don’t like to pay taxes but many still want the nanny state anyway. Can’t have both.

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One of the Republican candidates who has been surging in the polls is Herman Cain, former Godfather’s CEO and former Kansas City Federal Reserve Chairman. He’s proposed a 9/9/9 tax structure. A flat 9% income tax, a 9% national sales tax and a 9% corporate tax. Sounds great on the surface, but it won’t pay for the ills that ail this country and its massive deficit situation. Under his proposal, massive cuts will have to be made to the spending side, defense and entitlement included. The shortfall between revenues received and outlays would be greater than they are today. The solution…make it an 11/11/11 tax and you’ve got a plan…9/9/9 just sounds catchier, I know.

However, the part about the plan that I really don’t like is the national sales tax. It’s been around in many countries for many, many years. Here’s the problem: Once you institute a national sales tax, guess what? You can raise it. Yep, in countries like the United Kingdom, the national sales tax or VAT began at 10%. Next year it will be 20%. And, if you’re living in Denmark or Iceland…you’re paying a whopping 25% (25.5% in Iceland). Sound like fun yet? And, that national sales tax does not exempt you from paying a local sales tax or a state sales tax.

We can moan and whine all we want about taxes. But, in truth if we want to live in a first world environment then taxes are required to fund infrastructure, defense, entitlements etc… What we don’t need is the excess spending that comes along as a result of cronyism gone wild in Washington. If you want lower taxes, elect people who will reduce corruption and graft in the halls of DC. Elect those who will pass lobbying reform. Elect those who will vote for term limits. Elect those who will be held accountable. Until that happens, higher taxes will be a way of life for years to come. The real 99% solution is to get rid of 99% of the politicians who are purporting to work for the people.

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