Sunday, February 19, 2012

Where I stand - on taxes

I don't like paying taxes, or at least not as much as it seems I have to pay (income - both federal and state, social security, medicare, property tax, vehicle registration, sales tax, etc); but at the same time I believe our government needs to have money in order to function and we must have a government.
I believe that everyone should pay taxes, even though some will pay more than others. Nobody should get more money in a "tax refund" than they actually paid in taxes that year (though some may end up getting most of what they paid refunded depending on their circumstances).
Welfare and tax refunds should be kept separate and I will discuss welfare separately.
I don't know enough about the people that start business to know if they would stop starting business if their tax rates were increased, so I can't speculate on that. I do know that as a small business owner, I enjoy being able to give others work and pay them for the work they do. Profit from the company often goes back into the company and if my tax rate were increased, I would have less money that I could put back into my company.
I feel a flat tax rate would be the most fair, but baring that, we need to cut a few hundred thousand lines of text out of our current tax code. In programming, we have a saying called "KISS". Which stands for "Keep It Simple, Stupid". I believe the same applies to tax law.

1 comment:

marshfam said...

I completely agree. I think a flat tax is the way to go. I also think that if we were on a flat tax system that would eliminate the need for serious revenue going into the IRS which would mean far less tax money would be needed in the first place. I realize that would mean the loss of jobs for some IRS employees, but just think of how many more small business owners could afford to hire them. :)