Dear Jim, > As Beardsley Ruml pointed out in the 1940s, with the ability to issue currency, the government has no need to tax. It can print as much money as it will ever need. Therefore, in his view, the function of taxes such as the income tax and the inheritance tax, is not to fund the government or provide for constitutionally mandated functions. Instead, the function of these taxes, he wrote in his article for American Affairs magazine, is the redistribution of wealth. From whom? From those capable of producing wealth.
I think that is true, but only if there *is* inflation. So, when Danny said 10% inflation, I believe he was thinking about it in a system where there is no income tax (he said he prefers such a system). I would like to draw everybody's attention that now, in Russia, the income tax for people (not companies) is unique (no progressive taxation levels) and around 14%, and they are doing well since it was introduced. As you point out, the average american pays 50% taxes. Do you think that a system with no inflation and with a flat 5 - 10% income tax (for everybody, person or company) is also theft? I have in mind that there is no other type of tax, like: VAT, property tax, welth tax... whatever. Obviously, I am thinking that the income tax is used for what the country needs (even if you would say you or anyone else don't know what the country needs). Does this kind of system seem fair to you (or anybody else who wants to answer)? Regards, George Hara ------------------------------------------------------- Xnet scaneaza automat toate mesajele impotriva virusilor folosind RAV AntiVirus. Xnet automatically scans all messages for viruses using RAV AntiVirus. Nota: RAV AntiVirus poate sa nu detecteze toti virusii noi sau toate variantele lor. Va rugam sa luati in considerare ca exista un risc de fiecare data cand deschideti fisiere atasate si ca MobiFon nu este responsabila pentru nici un prejudiciu cauzat de virusi. Disclaimer: RAV AntiVirus may not be able to detect all new viruses and variants. Please be aware that there is a risk involved whenever opening e-mail attachments to your computer and that MobiFon is not responsible for any damages caused by viruses. --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
