LETTER: Tax bill goes after killer of capitalismTo the Telegram: Our income tax system is designed to keep working people poor. The lowest income earners face a 7.65 percent payroll tax. Add hidden corporate taxes in the wholesale costs of goods and services and the working poor pay more than anyone thinks.
To the Telegram:
Our income tax system is designed to keep working people poor. The lowest income earners face a 7.65 percent payroll tax. Add hidden corporate taxes in the wholesale costs of goods and services and the working poor pay more than anyone thinks.
Its other basic premise is to protect the wealthy. The really wealthy could care less about income tax rates. They don’t rely on incomes. Why do you think Warren Buffet asks for higher tax rates?
ABC’s Amy Bingham wrote: “a complex web of deductions and exemptions in the federal tax code have allowed more than 20,000 wealthy tax filers (to) get off the hook on paying federal income taxes.”
If you want to impact the wealthy you need a consumption tax.
At policymic.com Steve Curtis wrote our tax system “is doing exactly what it was designed and intended to do; undermining our free market, capitalist system with the ultimate objective of destroying it so a state-controlled, socialism-based, economy can take its place.”
Karl Marx said: There is only one way to kill capitalism, taxes, taxes, and more taxes. We need one tax, a simple consumption tax.
Curtis added; “Karl Marx didn’t invent the progressive income tax, but he was one of the first to articulate its usefulness in undermining the economic system he hated - capitalism. In fact, Marx said, “My object in life is to dethrone God and destroy capitalism.” According to Marx, and later Lenin, the advantage of a progressive income tax system is that it allows those in control to debauch the currency and make economic success a matter of luck and political connection, rather than skill or hard work.”
A consumption tax, The FairTax Act of 2013, was filed in the House on Jan. 3 with a record number (53) of first day co-sponsors.