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Originally Posted by Cynthetiq
I'm sorry but it's short sighted. I NEED to subsidize some people in my life. Why? because an EDUCATED person is a better contributor to society than someone on Welfare.
I don't have any kids, but my taxes go to fund public schools. I went to private school at a great expense to my parents, and they also paid taxes which went to public schools.
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If you paid a consumption rather than an income tax, your tax dollars would still support the schools. Actually, most school funding comes from property taxes.
Or, if you keep more of your money and you want to help kids, who's going to stop you. You could adopt a family, you could fund a music program at a school, you could set up a scholarship program. If you had extra money you could do what Bill Gates does with his foundation, just on a smaller scale. Wouldn't it be nice to have the power to make your own choice on how you would help others.
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I don't use as much toilet paper, food, clothes, etc. Those things are consumed. A family would be paying more than me because of that, thus they have a higher percentage of money going to taxes than I would could afford it but don't want to pay it.
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If you want complication. We could not tax toilet paper.
Understand that the guy who buys a $80,000 car every other year will get big tax bills everyother year. If you spend $100 on toliet paper per year, the tax might be $5. And remember under the current system the guy buying the $80,000 car, most likely uses it for "business" and has a tax write-off for it. The family of four buying the toilet paper has no creative ways to lower taxes.
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And if I get my way, I will be one of those people who don't work 9-5 and you'll wonder where I get my money from because you won't know that I invested in stocks, bonds, real estate and I just go to the mailbox in my fuzzy slippers to collect my money. It doesn't mean that it's illegal.
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That is my goal too.
I say let people work, save and then when they can live off their investments let them. If I work my but off for 20 years and save every penny, and then one moring I wake-up with a few million saved isn't that better than - working my but off for 20 years and having the government take everything I would have saved, wake-up one morning and have nothing but a promise of social security but then only if I work another 20.