Any income tax is an abomination because income tax equals indentured servitude (= bondage). This country was founded on the belief that the fruits of a man’s labors were his and his alone.
Income tax also is as regressive a form of taxation as is possible because the only way to reduce tax indebtedness to better weather lean times is to earn less. And the government has never shown any discipline in the levying of income taxes and likely never will. This year the average American worked exclusively for the benefit of the government until 23 April (Tax Freedom Day). In 1950, Tax Freedom Day was 31 March. In 1900 it was 22 January.
The only way to keep Congress’ hands out of the cookie jar is not to put any cookies in it.
Well played, Paal.
Income taxes are fundamentally flawed, no matter the rate, no matter how progressive or regressive. Flatten a cow pie and it remains a cow pie. And it still stinks.