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re: Free Market Proponents and Tax Deductions
Posted on 1/25/14 at 4:29 pm to Powerman
Posted on 1/25/14 at 4:29 pm to Powerman
quote:
I always see a lot of people who claim to be for a free market with as little government influence as possible defend tax deductions. This seems like an obvious instance of ideological inconsistency. If you are for a free market you should want 0 deductions of any form for both employers and employees.
A fairer, flatter, tax system is a huge part of the libertarian ideal. That includes an elimination of deductions. Unfortunately, that is not the system we live under so deductions are a necessary evil until we can actually reduce tax rates.
1
Posted on 1/25/14 at 4:40 pm to WikiTiger
(no message)
This post was edited on 4/9/14 at 10:13 pm
Posted on 1/25/14 at 4:44 pm to WikiTiger
quote:
A truly free market would not have taxes because the services that taxes pay for would be provided by the market if they were demanded, so the question is a little bit flawed.
Good point.
Posted on 1/25/14 at 4:45 pm to Zach
(no message)
This post was edited on 4/9/14 at 10:13 pm
Posted on 1/25/14 at 4:46 pm to Powerman
Even no deductions and flat taxes wont stop people from finding ways to reduce their taxes. At work, i just looked at a schedule e where someone reported 6000 in rental income and 3000 in advertising costs (along with thousands more in repairs, utilities, etc) to create a huge loss. Why the frick would you rent a property if you were going to lose that much? You wouldn't.
Posted on 1/25/14 at 4:46 pm to Gr8t8s
quote:
You must assume that I am a liberal. Your assumption would be wrong.
quote:
A total free market would and has been taken advantage of by greed.
And we've got a contradiction. Only liberals hate greed. Greed is wonderful. Read Adam Smith. If you can't read old English go with WM. F. Buckley, Jr.; Thomas Sowell, Walter Williams, etc.
Greed is the natural human condition that creates prosperity.
Posted on 1/25/14 at 4:48 pm to MFn GIMP
quote:
fairer
Posted on 1/25/14 at 5:28 pm to Powerman
quote:Not sure if I'd go that far. But, indeed, the tax codes are being used to induce behaviors. I agree that is abhorrent. It's a misuse of a revenue mechanism.
Clearly the government is deciding what the incentives are. Sounds more like a centrally planned economy than a free market.
And sadly, it is individuals that have some of the greatest behavior-inducing tax incentives. Witness Home mortgage interest and child deductions.
I'm probably in the minority.... But I think you should have to pay more for your children.
This post was edited on 1/25/14 at 5:30 pm
Posted on 1/25/14 at 5:37 pm to Taxing Authority
At the very least, there should be a limit on claiming children as a deduction. No more than 1 deduction and tax credit per ss#.
Posted on 1/25/14 at 5:40 pm to Gr8t8s
quote:
As bad as I hate to say it, there has to be minimal government intrusion in certain aspects (monopolies, etc.).
That's kind of ironic because the biggest monopoly is government.
In a true free market the monopolist would not be able to lobby the state to regulate and create barriers of entry to his competitors.
Posted on 1/25/14 at 5:51 pm to Gr8t8s
quote:
Example of a current, totally free market? I'm talking for a country. Not a small sample.
quote:
A total free market would and has been taken advantage of by greed
This post was edited on 1/25/14 at 5:52 pm
Posted on 1/25/14 at 6:52 pm to Powerman
quote:I am against all taxation.
I always see a lot of people who claim to be for a free market with as little government influence as possible defend tax deductions. This seems like an obvious instance of ideological inconsistency. If you are for a free market you should want 0 deductions of any form for both employers and employees.
Posted on 1/25/14 at 7:07 pm to Powerman
Theree should be Zero taxes on wages
Wages is money earned by sweat equity.
Only idiots don't know this.
Wages is money earned by sweat equity.
Only idiots don't know this.
Posted on 1/25/14 at 7:38 pm to Zach
(no message)
This post was edited on 4/9/14 at 10:12 pm
Posted on 1/25/14 at 7:41 pm to Dalymaple
(no message)
This post was edited on 4/9/14 at 10:12 pm
Posted on 1/25/14 at 8:30 pm to Powerman
quote:
This seems like an obvious instance of ideological inconsistency. If you are for a free market you should want 0 deductions of any form for both employers and employees.
In a truly free market, there would be no taxes that would require the existence of deductions. I am not a fan of convoluted tax codes by any means, but I certainly don't complain when people are given an opportunity to keep more of their money from the government.
Posted on 1/25/14 at 10:27 pm to Tigah in the ATL
quote:
Why should a $3000/month mortgage be subsidized but a $3000/month rent in NYC not be? Because frick renters that's why. And because bankers have a bigger lobby than renters.
So no one owns the building that the renter lives in? Double subsidy?
frick subsidies for everybody.
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