Is it time to return to ancient taxation methods to restore fairness in Federal Tax Laws and still have tax incentives for everyone, rich and poor?
The Chicago Tribune article titled, Amazon’s $0 tax bill? It’s all legal, reports “Amazon.com does not plan to pay the IRS anything this tax season.”
The Purpose of This Post
Annual Federal Tax Time is here. This Post may upset you when you discern our present taxation is not a fair or just system. If so, perhaps you should not read any further.
In ancient times, much simpler taxation methods were in employed in ancient Israel and still allowed incentives to prosper and provide employment opportunities for people to work to provide for themselves and their families.
Perhaps, we need to emulate ancient practices to avoid legal and illegal tax schemes to develop by businesses from incentives to hire entire tax avoidance departments to focus on how to avoid paying taxes.
And, a government that schemes continually to obtain more nickel dime methods to tax because they mismanage our Nations finances to result in the present 22 Trillion Dollar National Deficit.
A ruler with no understanding will oppress his people, but one who hates corruption will have a long life. (Proverbs 28:16 NIV)
This only have I found: God created mankind upright, but they have gone in search of many schemes.” (Ecclesiastes 7:29 NIV)
What’s My Point?
King Solomon’s kingdom broke up after his death because of oppressive taxation, we have term limits on our Federal President to prevent his “reign” of a long life in office. But somehow our Nation has managed to still allow perfectly legal “schemes” to allow a large Corporation like Amazon to pay $0 taxes.
In two previous posts, one about a proposal for a 70 percent tax bracket, the other about inheritance taxes, I believe we need to examine ancient taxation to avoid our Nation from the same fate that occurred after King Solomon’s death, which was to divide our Nation. There is unquestionable a wealth divide in our Nation.
We know Socialism fails to provide incentives for people to scheme to either take advantage of others working hard or becoming discouraged because no matter how hard the work, there are no personal incentives to motivate them to work harder to benefit with more wealth.
For example, in the USA there is statistical evidence of an increase in Social Security Disability applications. And plenty of incentives to remain in poverty, with food stamps, rent subsidies, health care, etc. These well-intentioned programs to help people for a short time have managed to provide incentives to scheme to either remain on benefits and work in jobs paid under the table to avoid Federal Taxation.
In My Opinion
In ancient times everyone paid 1/10th in taxes or labor to pay a fair share. In my opinion, a ten percent minimum and in life and maximum in death should be the guidelines to both limit oppressive taxation.
I also believe tax incentives do provide businesses to expand and create employment. However, when the incentives exceed a minimum, it becomes unfair and unjust in our society.
While President Trump reduced the 35 percent Corporation tax to 21 percent, in my opinion, we should continue to allow Corporations incentives to reduce the 21 percent to a minimum of 10 percent.
Same with individual tax exemptions such as home payment interests, 401k, medical, etc. to prevent people from not paying any taxes because it is perfectly legal to avoid paying taxes, if you either can afford and personal tax accountant or scheme to work for employers who pay you under the table to avoid paying taxes. Or run a cash-only business and hoard cash in safety deposit boxes to avoid paying taxes. Or invest in offshore schemes
As for government to continue to borrow to pay for more and more social benefits, it is time for government to think about balancing the budget and paying down the National Dept which currently requires interest payments to bondholders of over a half trillion dollars a year and an ever-higher percentage of payments vs. Gros National Product to expand.
Think of all the social programs and infrastructure that could result if our Nation reduced the National Debt.
There are numerous explanations of ancient methods and reasoning for 1/10th taxation. Far too many for me to explain in relation to our Nations explanations in a post.
My opinion is 10 percent minimum/maximum guideline is fairer and just amount for both taxpayers and government. Hopeful to be reduced in the future if our Nation ever wises up to live within our means or pay down our present National Debt.
Read the Source Links below the article, an explanation of ancient methods of taxation, and previous posts. Also, a song that may help justify my reasoning why 10 percent should be both minimum and maximum fair and just for everybody.
Fair and just taxation?
Wise or foolish government spending and management?
Capitalism or Socialism Incentives?
Regards and good will blogging?
Taxation in Biblical Israel
70 Percent Tax Bracket, or?
Explanation Why Ten Percent Tax Reasoning