Friday, July 24, 2009

Taxes (17)

PJTV's Trifecta brings up something I've always thought with respect to taxes.

The beauty of taxes lies in withholding. Most people don't consider the money the government is taking from then. Additionally, many people even get a refund. How many times do you hear someone say, "I didn't pay taxes; I got money back!" Never mind they've given Uncle Sam an interest free loan.

I agree wholeheartedly with the idea that taxes should not be withheld. People should have to write an end of year check to the government (state and federal), lump sum.

Also check out Steve Green's suggestion with respect to Congress (he attributes it to Heinlein). You have two houses of government. One house only writes laws, with a two-thirds supermajority required to pass bills. The other house only repeals laws, with a one-third minority required to do so. Talk about starving the beast! It would cannibalize itself.

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