Tuesday, October 5, 2010

The Bush Tax Cuts: Extend or Expire?

Taxes are fundamentally a form of coercion. You either pay them and live free, or don't and go to prison. This is the one form of coercion that seems to have fallen into the chasm of American apathy, and I wish greatly for people to understand that taxes are BAD. Taxes make it harder for the small businessman to run his shop, or for the homeowner to pay his mortgage. Through tax laws, the government takes almost 40% of your hard earned income, and you don't have a choice in the matter. Taxes, no matter what the supposed benefit, are coercion, and thus are BAD!

On December 31, the tax cuts legislated by the Bush administration are due to expire. Obviously, this means that taxes are going to go up. So, the big question is, do we let them expire or do we renew them?

I say we not only renew them, we make it permanent and start cutting government spending. The best thing to do in a recession is to let the people keep more of their money. If we lower taxes, then we can do that. If we lower spending enough to create a budget surplus, then we can start to pay off our massive debt.

That's the way I think it should go.

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