FROM THE WALL STREET JOURNAL “The 10-Point”
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Responding to yesterday’s question on the GOP tax proposals, Bob Jones of New Jersey said: “Let’s stop using the tax code to encourage certain behaviors. Get rid of all tax deductions and preferences. That means the same rate for corporate income, personal income and capital gains, and no deductions for anything, including charitable contributions, mortgage interest or solar panels. Then set the rate to balance the budget, and they’re done. Simple.” Jim Miner of Michigan commented: “Unemployment is low, inflation is low and growth is now steady and sustainable instead of the boom-and-bust cycles of the past. Exactly what problem is this tax cut supposed to fix?” And Mark Pankin of Virginia asked: “The logic behind doing away with the deduction for state and local taxes is that taxpayers in low-tax states should not subsidize those in high-tax states. Shouldn’t the same logic apply to the mortgage interest deduction? Why should taxpayers without mortgages subsidize those who have them?”
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As a little L libertarian, I believe that “taxes are theft”. Pure and simple.
In order to get to a truly free market economy I liked Bob Jones of New Jersey idea. Same rate and just balance the budget.
Then we can move the fight to reducing the size and scope of Gooferment.
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