A modest proposal - Part II - Taxes

[korwyn]

Of all of the issues that I write about or I suppose think about this is always the most difficult.  However there are some constants that we can all agree to as a starting point.

• Everyone hates giving up any of their income for taxes, even when they know that the taxes pay for things that they (the tax payer) wants done.
• Most people have no actual

Comments

[acanthusleaf]

I want to think this over for a bit, but here are a few things I have been thinking about regarding taxes

[korwyn]

Corporations are business entities that have been legally recognized as "entities" with some rights. Frankly they should pay taxes like it.

[hunrvogt]

As someone who really should be filling in my 2010 expenses for my CPA, but is playing on LJ instead...

The thing that comes to mind in regards to no deductions, is that suddenly I would have to pay taxes on my expense reimbursements. Unless you meant no set deductions/credits like dependents or life-long-learning.

I guess the question really is...what is income?

It has been posited to me that the reason the airline industry charges baggage fees, rather than raising ticket prices is that they are not taxed at the same rate on fees. I don't know how true it is, but it was an interesting theory.

See there is it

[korwyn]

Honestly I would generally define income as inbound money to a person or business entity.

We could argue about the need for offsets to income, but then we are back down the path of special interests.