Monday, April 17, 2006
TAX DOOMSDAY - 2006
To "celebrate" the national day of legalized theft, I offer a few quotes and a link to an expose on government waste.
"The collection of taxes which are not absolutely required, which do not beyond reasonable doubt contribute to the public welfare, is only a species of legalized larceny. The wise and correct course to follow in taxation is not to destroy those who have already secured success, but to create conditions under which everyone will have a better chance to be successful." ---Calvin Coolidge
Here is a great guide as to what the government is wasting your tax money on...
Washington will spend $23,760 per household in 2006 -- the highest inflation-adjusted total since World War II, and $6,500 more than in 2001. The federal government will collect $20,044 per household in taxes. The remaining $3,716 represents this year’s budget deficit per household, which, along with all prior government debt, will be dumped in the laps of our children
Click here for the full piece by Brian Riedl-Heritage Foundtation
"Throughout most of American history, taxes were levied principally on consumption, rather than income... In the Federalist Papers, Alexander Hamilton had this to say, 'It is a signal advantage of taxes on articles of consumption that they contain in their own nature a security against excess... If duties are too high, they lessen the consumption; the collection is eluded; and the product to the Treasury is not so great as when they are confined within proper and moderate bounds.' Hamilton was thinking here about direct taxes on consumption, such as the sales taxes levied by most state governments. He was right in thinking that there is a limit to such taxes. Experience shows that general sales tax rates much above 10 percent are very hard to collect. They encourage smuggling, black markets, evasion, production for personal use, substitution for untaxed commodities and other activities that erode the tax base." ---Bruce Bartlett
(Thanks to the Federalist Patriot)
-Warner Todd Huston
# posted by Publius @ 4/17/2006 09:14:00 PM 
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