Saturday, October 18, 2008

income tax reform

here you can take a survey of sorts on whether income tax should be reformed/abolished (results are 80% yes, 20% no). It only counts your last vote after you've read through all the arguments. each time you choose "yes" or "no" it presents you with an opposing argument. I strongly encourage you to read both sides on each page (but oh, gee, that's quite a bit of reading and history and blah blah...) in order to get the broadest perspective on the issue.

As a big saver, the interest I earn gets taxed. Boooooo. Pluuus, you get some of your paycheck withheld, and then, come April they usually want you to cough up more money. And where the hell does this money go, eh? We don't get a say in the federal budget. ("Billy, I know Joey bullies you at recess, but I won't let you buy brass knuckles with your allowance.")

The basis for the reform is to completely eliminate individual income tax, and impose a higher sales tax. The site quotes 20% on one of their pages. I would assume necessities (like food, diapers, medicine) would have a lower tax than luxuries and sins (ie. cigs, alcohol, gambling gains).

One of the last arguments against reform is that there would be a mass increase in spending before the switch and then noone would buy anything... Well then they oughta be saving every extra penny they're earning without the withholding. Seriously, people need to buy things.

Honestly, I know there's no law that requires you to file your tax return.. But I file because i get money back "/ lol. Illinois usually takes some of my money (the three years I've filed it's been $4.. $8.. $16) but I get a few hundred from the Guvment. This past year, my parents gave me $500 for giving them my tuition info (that I paid, not them.)

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