Re: Mountains Rush and Moore
From: redneckj (redneckj_at_tampabay.rr.com)
Date: 08/21/04
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Date: Sat, 21 Aug 2004 22:10:17 GMT
"David M. Palmer" <dmpalmer@email.com> wrote in message
news:210820040948286993%dmpalmer@email.com...
> In article <aranders-2108040110370001@192.168.1.101>, Alan Anderson
> <aranders@insightbb.com> wrote:
>
> > I'm in favor of tossing out income taxes entirely, myself. I believe
that
> > the most appropriate basis for taxation is wealth, not cash flow. Don't
> > tax me based on what I earn or spend. Tax me based on what I *own*.
>
> Yeah, I spend all my income on hookers, drugs, and fast cars that I
> tend to crash within a year. Why should I be taxed the same as someone
> who wastes their money buying a house and saving for retirement?
>
This addresses the best objection. People that invested would be the ones
penalized. By discouraging investment, you doom the future. And the
decisions of valuation would be by appraisers that work for the govt.
Space Ship One seems to have performance similar to the X-15 sir,
Adjusting for inflation, it is a billion dollar assett, which at our current
reduced tax rate of 10% means your annual tax bill is $100M .
Similar to the income taxes that discourage producing reportable income.
Many people refuse to work overtime because "the govt gets it all".
There is a respectable quantity of unreported cash work for the same reason.
> --
> David M. Palmer dmpalmer@email.com (formerly @clark.net, @ematic.com)
>
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