I read an article by Paul Krugman (of the New York Times) who was complaining that the tax bill did not reduce taxes for a number of people in America.
I also found that around 45 percent (according to Washington Post in 2013) of Americans do not pay federal income taxes.
I wonder how a bill could be written that would lower the income taxes of people that do not pay any tax in the first place?
Krugman was also complaining that companies were getting a cut in taxes. I find this to be disingenuous, as corporations do not pay any income taxes. Companies pass this bill on to their customers or they go bankrupt.
I would like to see income taxes completely eliminated. It would be so much easier to just have a goods and service tax. This way any purchases and services would be taxed. This would mean the end of the Internal Revenue Service, and a goods and service tax on brick and mortar businesses could be less than online businesses to make it fairer.
Also — no tax on food staples, farm machinery, vehicles less than $40,000 and real estate less than $50,000.
Former IRS employees and U.S. Congress would be in hog heaven making up all of the rules. This would mean that drug dealers, coupon clippers and entities that hire the best accountants would now pay a fair share of the government’s income.
I also noticed that Al Gore opined that the recent cold snap in the northeast United States was due to global warming. If the temperatures had been above normal, would that have also been the impact of global warming? Just wondering.