Thursday, June 18, 2009

A nation trying to tax itself into prosperity is like a man trying to drink himself sober.

Taxes... yes I know you're probably sick of hearing about the topic, but I've held back for to long. I don't quite get it, I'm talking specifically about the Federal Income tax. To me it doesn't make any sense. Why does Uncle Sam take tax me and you for getting working? This doesn't make any sense. We the consumers, the driving force of our economy, are having our hard earned pay taken away from us. That's not fair ( I feel like a 12yr old when I say that). We work to spend money which drives our economy and theoretically, if there was no Federal Income tax more people would have more money to spend and the government would have less. Sounds good to me so far. Keep the state tax that's fine, but don't raise it. The Federal Income tax is the highest amount deducted from your paycheck w/ Social Security coming in a strong 2nd. I understand Social Security it's not a tax, but at least give me the option. That's my problem w/ the Fed I want control over my finances I don't want the government to control my finances, I want to control where my money goes. I am perfectly capable to deciding if I want to set aside a certain percentage of my income for my retirement. I can set up my own account and if I choose to use the governments retirement plan then so be it, but if I don't want to then what's the big deal??? 
The State Income tax I'm fine with. All residents should contribute to the well being of their state. Maybe I'm crazy, but if the Federal Income tax was levied or reduced to that of Medicare then maybe, just maybe citizens would develop a little more respect for their home state. I'm a CT resident and we pay pretty high taxes all around gas kills me... Anyway as I drive of the road here... Transparency-- if state residents are able to see where their money is being spent, if the politicians even bothered to try to reach out to their constituency other than during campaign season maybe residents would develop a little more pride for their state. What I'm saying is reduce or eliminate the Federal Income tax, let ME keep MY paycheck and I'm going to spend more. This is going to help small businesses prosper and increase competition locally and among the states which I think would be great for our economy. -For the record I'm an Independent. As far as corporate taxes... another topic for another post coming soon to a blog near you.  

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