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It's amazing the power they have to make up new "rules" this broad without a vote by elected officials. In the US we need to abolish the income tax, corporate
by willmadden 3y ago
It's amazing the power they have to make up new "rules" this broad without a vote by elected officials.
In the US we need to abolish the income tax, corporate tax, and all of the other federal taxes, and add a VAT that scales higher for luxury items like houses over certain values and luxury items.
This would end up being far more progressive that the shit show we have today with the tax code. It would also lower stress levels 10x.
We also need to revoke the bank secrecy act and patriot acts. We can put in a streamlined subpoena process if law enforcement needs access to financial records for a legitimate investigation. We're not living in the 1970's anymore. The rules are archaic and overreaching and allow for total financial surveillance without a warrant. That's just too easy to abuse if you have access to these systems.
The first thing I would do if I was an evil person is put plants in government who have access these systems. The power they wield is enormous.
- RhodesianHunter 3y agoA sales tax is always regressive, no matter how you tier it. Poor people spend 100% of their income/net worth monthly. The ultra wealth spend something like 0.00000000000001%.
- willmadden 3y agoThat's why we should have a progressive VAT. Food, household items, and basic durable goods would have low-to-no tax. A luxury mansion or supercar would be taxed at the highest bracket. The ultra wealthy own transnational corporations that don't pay tax, and the ultra wealthy aren't paying tax when they sell shares, unless they are a public officer of said corporations anyway. They have family and multi-family offices that handle all of this. We've got to be more pragmatic about taxation, adhere to the KISS principle.