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I think the even more hidden thing is that taxes are more about policy than revenue. If it was just about revenue, then they would tax it at the source - income
by giantg2 1y ago
I think the even more hidden thing is that taxes are more about policy than revenue. If it was just about revenue, then they would tax it at the source - income tax on people and companies. But just imagine the reaction people would have when 50% of their paycheck was gone. They even hid the cost of social security and Medicare by making the employer pay half so it doesn't show on the paycheck. Break it up and people don't add it up and you can use it to control their behavior on different subjects.
- bombcar 1y agoJohn Marshall - “The power to tax is the power to destroy” Much more now taxes are behavioral rather than income for the government (especially given the deficits). And credits are explicitly so. At least income taxes stop when your income stops. Many others don’t.