Liberty and Accessibility

Tuesday, March 20, 2007

Ron Paul On Taxes

By Ron Paul
October 16, 2006
In Washington we hear a lot of talk about tax cuts, but the rhetoric
does not always match the reality. For most Americans, taxes remain too
complex and too high. After the tumult of the upcoming midterm
election, it is imperative that Congress gets back to basics and
addresses our terrible tax system.
Lower taxes benefit all Americans by increasing economic growth and
encouraging wealth creation. I'm in favor of cutting everybody's taxes
– rich, poor, and otherwise. Whether a tax cut reduces a single
mother's payroll taxes by forty dollars a month, or allows a business
owner to save thousands in capital gains and hire more employees, the
net effect is beneficial. Both either spend, save, or invest the extra
dollars, which helps all of us more than if those dollars were sent to
the black hole known as the federal Treasury.
Many conservatives have touted the Fair Tax proposal as an issue in the
upcoming election. A pure consumption tax like the Fair Tax would be
better than the current system only if we truly did away with the
income tax by repealing the 16th amendment. Otherwise, we could end up
with both the income tax and a national sales tax. A consumption tax
also provides more transparency and less complexity. But the real issue
is total spending by government, not tax reform. In other words, why
change the tax structure if spending stays the same? Once we accept
that the federal government needs $2.7 trillion from us-- and more each
year-- the only question left is from whom it will be collected. Until
the federal government is held to its proper constitutionally limited
functions, tax reform will remain a mirage.

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