I think you earned every dollar, you should get to keep every dollar that you earn. That's your money, that's not the government's money. That's the whole point.Perhaps she favors a more Biblically-based revenue system, where the government operates on our tithes.
Friday, September 23, 2011
Winning the GOP race ... to Most Stupid Candidate
The increasingly desperate Michelle Bachmann:
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So I've often wondered this, and it's kinda an obscure question which is hard to google, but...
ReplyDeleteLet's say we did what she says and got rid of taxes completely. Wouldn't that effectively act as a massive spike of inflation?
It seems to me that market equilibrium is based largely around what people can afford to pay. So if everyone in the country suddenly made 25% more money, prices would increase accordingly.
I never see this idea discussed, though. Maybe it's just because nobody's stupid enough to suggest zero taxes and the impact doesn't happen if you're just tinkering around the edges... But Bachmann made an excuse to bring it up in a nice, small forum for discussion :)
Yah, it's kinda like "what if everything in the universe grew by 25%?"
ReplyDeleteBut I think your point has wider validity than you allow. Lowering taxes should raise inflation--not through the roof, but a significant cut should lead to a significant rise. (Saith the armchair economist.)
Certainly, the usual suspects argue that pay raises are useless because they send prices up. Why those Chicago-School types don't argue the same about tax cuts, I leave as an exercise for the reader.
I'd most certainly, probably, maybe perhaps, be in favor of just paying on the 10% tithe tax table aka flat tax for everyone vs the current system.
ReplyDeleteRazor
After the elimination of Social Security, Medicare, and Medicaid, 10% might suffice.
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