Tuesday, August 4, 2009

August 4, 2009/2

It will be interesting to see which arrives sooner in my existence: death or taxes. My money's on the latter. How the taxes necessary to restore some of our eroded position are formulated may be Washington's (and the voters') last chance to make good use of the crisis. Here are some thoughts.
What about a national sales tax, say 2%, on online purchases? It makes no sense that if I buy a classical CD from Arkiv, I pay NY sales tax, whereas if I buy the exact same disc from Amazon, I don't. Makes no sense - and offends my sense of equity. Half the tax collected could be ratably rebated to the states.
Corporate dividend payments should be deductible at the source. This would encourage distributions, keep the heat on managers and to some extent offset the cost of taxing benefit contributions.
Individual taxes, both on income (of any type) and capital gains, need to be indexed to reality. Or, as my mantra puts it, only tax AS rich what IS rich, on a sliding scale that begins low - at, say, $50,000 and moves upward in increments to a top bracket of, say, 50% on income in excess of $5 million and gains in excess of $50,000,000.

1 comment:

  1. If your sense of equity is offended, why not comply with the law and pay "use tax" to the state of NY? There are a few states that don't have a sales tax, but you'd tax them because you don't comply with the Use Tax?