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Tag Archives: tax code

A while back I was watching the Glenn Beck program and he had Joe Rogers on. He was talking about the American tax system, how it had discouraged saving.

I did not know what to make of it at first, but it was good food for thought. And then it hit me.

You see we have the tax system…a tax system. That taxes income. It taxes how much you make, and discourages saving.

That if you make money, have money, save, be frugal, or suddenly find yourself into a lot more dollars you will be taxed at a greater amount. Or at the least treated with suspicion. In other words such a tax system and such a culture that actually discourages saving.

And they have talked about other ways of taxing including savings accounts, taxing transfers of money, and other things.

We need something to, at the least reverse the trend. I do not advocate ‘tricking’ people into saving but we need a way to encourage people to be as frugal with the dollars and the resources that they have rather than the opposite which has trickled all the way to the top of our Government and our current policies of big spending.

Some people do not like giving money to the Government, some people do not even like spending more money then they have or spending in general.

Therefor any future tax will have to be consumption based. Based on what people buy.

That way people will, hopefully, start saving again. It will start going about its business again and then decide, is this item really what I want to spend on? Since it will slightly more expensive.

And that way you can have no loopholes, no tax breaks, no benefits, and everyone would be taxed in some way regardless of income.

That way people are not going to be taxed on purely what they save, but what they chose to spend in the markets and through society.