Thanks, I will study it more. Perhaps some kind of cap needs to be put in place, instead of it going from say 20% to 25% to 30% and on and on, better to do it up front than wait until the politicians see the need to raise taxes again. Any ideas?
Perhaps some kind of cap needs to be put in place, instead of it going from say 20% to 25% to 30% and on and on, better to do it up front than wait until the politicians see the need to raise taxes again. Any ideas?
Caps on tax rate per-se is kind of meaningless, as an expansion of the tax base allows rates to remain unchanged or even lowered but individuals end up paying more taxes as an absolute amount regardless. The federal government can spend beyond current taxes creating deficits and wait for inflation to catch the revenue base up or even grow the tax base by including factors not taxed under a particular tax system.
Capping taxes is a poor way to control federal government. Past experience merely shows that the federal govenment is more than willing and able to run on perpetual deficits and increasing debt.
The only certain way to control governent is through the representatives you elect for office, and placing constitutional limits on levels of government spending with forced balanced budgets.