It’s a legitimate question, “Do we need an income tax?” Here’s a legitimate answer: No.
The United States could eliminate the individual income tax and still have a functional government.
We would need to eliminate a lot of the wasteful spending that has been spiraling out of control. Here’s how we do it:
Sell the USPS.
Bring the troops home immediately. No more wars (especially of the undeclared variety). With no need to fund absurd wars, we can stop borrowing $2.5 billion per day, saving us over $900 billion per year.
Cancel the Department of Homeland Security. This will save about $43.6 billion per year. Airport security should be private, like it was for decades before 9/11.
End the war on drugs and eliminate the DEA. This will save$15 billion each year (maybe $100 billion nationally), plus we could tax marijuana providing billions in annual tax revenue. This will allow us to empty a lot of prisons filled with non-violent drug offenders, saving us billions more each year.
Drop the Department of Education. We’ve been throwing hundreds of billions of federal dollars at our education system to no avail. Let states handle education. This measure will save about $46.7 billion annually.
Exterminate the IRS – a horrific example of government run amok. This will save over $12 billion in federal costs. The elimination of an income tax will save the American people billions of hours of potential productivity, hundreds of billions of dollars that are wasted on tax compliance, and hundreds of thousands of trees that our environment really needs.
Without an income tax, people are earning about 20-30% more, so they have more to spend/save and hopefully more time too. More spending boosts the economy, which creates jobs. Those jobs can be filled by the now-former-federal employees who were hindering the economy.
Legalizing marijuana and gambling opens up entire industries, creating tens of thousands of jobs while stripping the black market of its power and possibly ending the cartel-lead violence in Mexico.
Fannie Mae and Freddie Mac should have failed in 2008. Let them rest in pieces. This will save over $100 billion each year.
End the HUD and give houses to the homeless and those currently living in Section 8. That saves another $42.6 billion.
The private sector would handle energy better than the government. Let’s recycle and sell our nuclear waste for clean energy then pull the plug on the Department of Energy to save $29.5 billion in costs and an additional $36 billion in loan guarantees (there should be no guarantees in business and the government certainly shouldn’t pick the winners and losers).
Food prices are too high. They would fall if we stopped subsidizing corn and cut the chafe that is the Department of Agriculture from the taxpayer burden. This saves the American people $25.7 billion in direct costs plus an untold amount in food cost savings.
Department of Labor: Why do we need a bureaucracy of “workers” to figure out some stuff for other “workers?” We don’t. Another $13.4 billion in wasted funds goes back to the American public.
The Department of Transportation should build us a high speed rail by 2020 then be eliminated to save Americans an additional $128 billion (proposed by Obama). State transportation departments can do fine on their own.
We don’t need an entire Department of Veteran Affairs with operating costs of $58.8 billion dragging on the economy. They can keep their benefits by receiving their checks directly from the Department of Defense.
Let’s close half the military bases and cap the Defense budget at $400 billion (saving $282+ billion).
While we’re at it, let’s End the Fed too. They just cause problems printing as much money as the federal government wants. Our dollar will increase in value which increases your purchasing power.
The American people’s standard of living skyrockets under this plan. More dollars are in the pockets of middle-class America and each dollar buys more. Our economy really starts to roll as GDP rises and unemployment drops (after the initial wave of government employees find new, actually productive, jobs).
We can raise revenue by making a flat corporate tax of 25% to be more globally competitive and eliminate all loopholes. We can also impose slightly higher tariffs on imported goods to further encourage companies to relocate operations (and jobs) to the US.
More American jobs means more money in America. Life is good.
(This is an updated version of this post from 2011)
Article Directory: http://www.articletrunk.com
More About the Author
Please Rate this Article
Not yet Rated
Additional Articles From - Home
| Society Articles