Ombow,
You say we need to increase revenue through taxation. That is correct in concept, but the current approach will fail simply because we are taxed too much already. Think about it:
Fed tax rate: 28%
State tax rate: 10%
Sales tax rate: 7%
That's 45%, almost half our income goes to pay taxes. Add to that getting retaxed on capital gains, dividends, interest, property tax. Plus, almost anything you do now adds some sort of safety tax, insurance, gas tax, on and on. Too damn much.
The velocity of money is damn near zero and that's the problem. Many people have decided not to spend anymore because costs keep going up and wages and wealth don't keep up. And the government gets ever more bloated with great retirements that we, the private sector pay for. I'm done being robbed in the hood to pay the theives on the hill.
What they need to do is cut taxes drastically and reinstate a comensurate reward to the person making the effort. Currently, we have simple redistribution of wealth. If they dropped the fed rate to 15%, States and sales taxes to 5%, that would only be one quarter of my income. That's a ratio I can live with and will be worth the added effort it takes to make more money because I'll keep more. As others do the same thing, the extra money we earned will get spent on luxury items. More people get hired. More people spend. The amount of transactions increases dramatically. The economy revives and the government gets more revenue because the velocity of money quadruples. The goverment makes 50% of 1X your way. The government makes 25% of 4X my way. My way doubles the revenue AND people are happier.
Elections do nothing because all the clowns are whores and do the same thing. I have no other power than to make sure my taxable income is so low that I'm only forced to give this shitty government a minimal amount to stay out of jail. If they would respect the constitution, and stay out of my business and quit starting senseless wars, then maybe I'd change my mind. But, since nobody will stand up to them, nothing will change.
I will continue my solitary protest,
MF4
AI
