Please note that my opinions are my own, and the opinions of the anyone or any institution quoted are theirs. The opinions expressed herein do not reflect the opinion of North Carolina State University, its board of directors, the College of Management or any other college, Student Media Authority, or WKNC Raleigh.

Tuesday, February 27, 2007

Income Tax

This time of year my mind always wanders to the income tax. I just want to collect a few short thoughts, and comments are welcome.

A flat tax disproportionately burdens the poor. Yes, the percentages are the same, but who can more afford the flat 10 or 15 percent? The person making six figures, not the one below the poverty line. The distinguishing factor here is how we define subsistence.

That's why our income tax is called a progressive tax.

And it's a pain to file. But without withholding, the people put most at risk of defaulting on their tax bill, otherwise productive members of society if by meager means, would be thrown into debtor's prison. Or jail, I guess we don't have debtors prison anymore. Without withholdings, the poorest members of society would not receive an injection of "unexpected income" and people of modest means would be hit with an "unexpected debt" that may be hard to pay.

Don't mess with something if it ain't broke.

1 comment:

Juris Naturalist said...

Why should we mix taxes with ethics? Which is more likely to affect the other?

"Without withholdings, the poorest would not receive an injection of unexpected income."

What? C'mon now... The poor make an interest-free loan to the government for (January 1, next year - today's date) time periods and then they ought to be glad about it?

The key to reforming taxes is to cut government programs.

We can start by closing down all overseas military operations and reducing the size of our standing army.
Then we can shut down every government program that involves a transfer of wealth.
Finally, we could privatize every government monopolized industry.

If we don't cut spending, what difference does it make how the government steals our money?

Cite a moral imperative from which we may derive an ethical taxation system.