Saturday, December 22, 2012

The ‘Max Tax’ Amendment to the Constitution

The Sixteenth Amendment to the U.S. Constitution was ratified one hundred years ago in 1913. It stated simply: “The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.” Given President Obama’s insistence that individual tax rates on the rich, as he defines “rich,” based on unelaborated Obamian principles of “fairness” that appear to have no bounds, it is time that we amend our Constitution to limit the ability of our Federal Government, and our state and local governments, to tax.

First, a word about the principle of fairness. Arguably, based on IRS figures, fairness would dictate that the tax rate on the “rich” should be decreased while the tax rate on the middle income should be increased. As Peter Ferrara pointed out on this page on December 5: “[A]ccording to official IRS data, the top 1 percent of income earners pay 39 percent of all federal income taxes, three times their 13 percent share of income, and [] the middle class, the middle 20 percent of income earners, pays less than 3 percent of all federal income taxes, while earning 15 percent of income…”

And I don’t understand why it is fair to have the majority vote to increase taxes on the “rich.” Why is it fair for people to vote to increase the taxes of some others but exempt themselves? I might add here that I find it remarkable that exit polls showed that 60% favored increasing the taxes of the wealthiest 2%. Why do I find this remarkable? Because only 60% favored it. Why would not 99% (everyone in the 98% and half of those in the top 2%) favor it? It may be that the middle class may know they will be next. As the President stated at a private home in Virginia on December 6, “Everybody is going to have to share in some sacrifice, but it starts with folks who are in the best position to sacrifice…” (italics added). It starts with them, but will soon be coming to the rest of you. Read more....

1 comment:

  1. The income tax really has been a curse not a blessing. From the begining until the present day the tax code has been used to reward some and punish others. Socialists love an income tax its the easist way to redistribute wealth.


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