Well, does friction decline if no taxes on business are assessed?
Substantially. No need to fill out federal, state and sometimes local tax returns. Simplified bookeeping.
How about only taxing consumption or ordinary income?
This is the paragraph Frank replied to that I deleted. It suggested that maybe some combination of VAT/GST with a wealth tax.
I have some objection I don't understand to letting those who've accumulated wealth sit on their asses and enjoy the fruits of society without contributing in some form to what I percieve as a society obligation to ensure that some minimal level of survival and potential for actualization exists. Specifically- that those born to poverty should have a chance to reach their potential.
I also object to a wealth tax, as I've worked hard to earn what I have and don't consider it fair to punish me for having forgone consumption to build savings.
I don't know how to reconcile this.
If you allow private property ownership, then you need some form of support for those born without the basic property required to sustain themselves. That's my values. I don't know how to pay for this (what taxes to enact). I do not believe that I'm not socialist- I think the support of newly minted citizens should be limited to sustenance during their initial years and education that enables them to contribute to society.
Then you are only taxing squander rather than taxing the means of production.
Perhaps.
But you didn't do that because of the taxing circumstances, did you?
Actually, yes. I couldn't see working hard only to be taxed at a 60% marginal rate, so I did away with that source of income. And started exploring how I could better manage my tax liability. It was a sole prop, no corp taxes involved and no limited liability. I'd never structure a business that way again- too much risk. But I did learn.
>>The Nolo series are very good guides for laymen to legal issues. IMO.<<
They;'re crap. The only way you learn is you set it up and then you get the nad news that no one knew because it wasn't what happened when they did it.
Well, you are entitled to your position. I'm not suggesting to rely on them soley. But they help a lay person to understand the potential, the possible pitfalls, and the questions to ask their attorney.
>>My primary concern is limited liability, not taxes. The LLC seems to present a lower accounting/legal overhead while offering the ability to act as both a pass through or corporate entity, with the ability to change the election after formation.<<
Running from taxes? Shirking your responsibility to provide for the poor? Acting like all the hypocrites I've seen for 35 years in professional life dealing with the nonsensical and counter productive rules of taxation?
Boy, I don't know how you read that into what I wrote. I specifically said that LLC's were of interst to me as a liability protection mechanism, not a tax avoidance device.
I've always paid my fair share of taxes, and will continue to do so. But I will also look to see how I might structure my activities better to avoid unecessary taxes. Once the state of california refunded taxes I paid that I shouldn't have, as has oregon. I don't ever recall the fed saying you made a mistake and paid to much, here is your check...
The moral rationalization is exactly and only that. Your concern is how you will maximize money over time. So how is it in your interest to maintain taxes?
Which in recent posts you claimed should be how and individual acts on the micro scale. In fact, the government uses tax policy to encourage certain behaviour. How is it wrong to take the hint?
It isn't. Your true motivation is to slam the other guy with the tax weapon because they're slamming you with it. That sounds like Economic Darwinism. You can't be on a socialism march and have that explanation in your hat.
You again project motivations onto me that I must wonder about. I'm certainly concerned that 'those who have the gold, make the rules' are positioning to shaft me. That doesn't make me an evil doer bent on shifting my burden to others.
Take a chill pill, ok? |
