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That's what inspired the thread. I asked Malamute whether he'd prefer high property taxes and no income tax (the Texas model) or high income taxes, high sales taxes, and low property taxes (the California model).
Of course if a tax is eliminated it means another tax is jacked up. As I said before there is good reason to favor high property taxes with ideally no other taxes, a la NH.
I'd think that the benefit for no income tax is significant for people with high incomes, but becomes burdensome for everyone else as they make-up lost revenue. A middle class family's tax burden isn't lessoned by an annual $7.5k property tax bill, as opposed to a $3k tax bill + 7% on clothing, entertainment, and food (also, many states don't tax unprepared food). I'd have to think that a combination of the income, property, and sales taxes would be most beneficial for the average American. But, then again, I'm not a tax expert.
I was thinking inheritance tax but did not think of gift tax too. The reason I believe this tax should not exist is that man is the only animal that has the ability to pass on their wealth to the person or persons of their choice. I think it is wrong to tax this. When one loses a loved one it is bad enough to have to get over the loss. Then here comes the government and adds insult to injury.
It is really sad that a person cannot even die without the government trying to get it hands in our pockets. I would prefer not to even have to keep up with money given to others and charity. If you pay taxes on the income when you make it, what you do with that income should be nobody's business. I think deductions for charitable contributions are being abused. Stop the deduction on money given to charities and stop the tax on gifts to whatever or whomever you choose.
We are not supposed to let the left hand know what the right hand gives. When you have to itemize, it is a little hard to do that.
If you have a corporation and show a profit the tax rates is very high. The corporate tax code isn't even progressive.
Like I said, I'm no tax expert, but no corporations actually pay those rates. Most pay significantly less, which is part of the push for a simplified tax code.
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If you could eliminate a tax, which one would it be?
