4 ms·
This isn't pleasant, but it's true. It wouldn't take many tax cycles of widespread IRS debt for average people to start pushing for lower taxes. It also might
by mises 8y ago
This isn't pleasant, but it's true. It wouldn't take many tax cycles of widespread IRS debt for average people to start pushing for lower taxes. It also might make people realize that 44% of Americans pay no income tax (source: https://www.marketwatch.com/story/81-million-americans-wont-pay-any-federal-income-taxes-this-year-heres-why-2018-04-16 https://www.marketwatch.com/story/81-million-americans-wont-...). Even accounting for children, that's a lot of people not contributing. It doesn't have to be a lot, but the average American will care a lot more about politics and about frivolous uses of their money when they've got some skin in the game.
For reference, the average American taxpayer pays over $10k in taxes (https://www.usatoday.com/story/money/personalfinance/2017/10/07/a-foolish-take-how-much-does-the-average-american-pay-in-taxes/106237216/ https://www.usatoday.com/story/money/personalfinance/2017/10...), which is roughly a 14% rate by the same source. How crazy is that? Americans will be much more willing to push for massive tax cuts after they realize that $10k is being stolen from them every year.