Only one tax would be necessary
DAVID L. FAUST
Are you being overtaxed? If you are at or near the bottom or in the middle of the economic ladder the answer is yes! In the 1950s, the top federal income tax rate on all income was over 90%.
Today, it is 15% on most of the income of the wealthy and 21% on corporate income while the top federal income tax rate on most Americans is 37%.
In addition to paying a higher federal income tax rate, you are also paying Pennsylvania’s regressive personal flat income tax rate of 3.06%, a 6% sales tax and over 70 cents total tax on a gallon of gas.
Locally, there are per capita and property taxes plus earned income and/or occupational taxes. Incidentally, it is your gas tax money that is building the CSV Thruway. A business can deduct gas and other taxes as business expenses. You can’t.
Yes, most of you are being overtaxed by government at all levels. Look at the fees, surcharges and other taxes on your cable TV, cell phone and utility bills. If you go out for a drink or to eat, go shopping, attend a concert or go to a movie, take a trip, go on vacation, buy or rent a vehicle, build a house and countless everyday activities, then you will be paying many hidden government taxes.
The size of government bureaucracy necessary to collect all of these taxes is huge and expensive. Is there a way to eliminate this excessive taxation? Yes, but it’s not going to happen.
There are too many elected wealthy politicians who believe it is their right to tax everyday Americans more so they can pay less than their share of taxes.
How could excessive taxation be eliminated? All government spending plans (budgets) could be balanced by a progressive tax that is based on the ability to pay of individuals and businesses, without loopholes for unnecessary tax deductions and exemptions.
That progressive tax is a graduated income tax, but the Pennsylvania Constitution would need to be amended to permit its use.
Tax rates could be as high as 50 or 60% on larger incomes, but only one tax would be necessary.