Tuesday, September 20, 2011

Instead of raising taxes, or addition to raising taxes....

Ayn Rand said people should be willing to pay 90% in taxes if it were necessary for national defense. It was hyperbole, but the point is that if the revenue is needed, then the taxes must be paid. Even Ayn Rand thought so.
If the government is in a situation in which taxes must be raised on the rich and corporations, then I propose that the following steps be taken as well.
1. End all subsidies to corporations. Corporations are supposed to raise their own capital and generate their own revenue. If a company can't do either, we shouldn't concern ourselves with it. A company that can no longer make money is like a lawnmower that can no longer cut grass. It has completely failed at its purpose. It should be scrapped.
2. End all entitlements to the wealthy. If taxes are charged based on the ability to pay, entitlements should be paid out based on need. If the country is such dire financial straits, if certain people are demanding that their own taxes be raised, why isn't this one of the first things to be cut?

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