“Here is my principle: Taxes shall be levied according to ability to pay. That is the only American principle.” – Franklin D. Roosevelt
We must balance our budget and our current tax policy is in need of reform. Deductions too often become loopholes, tax returns too often require CPAs to create, and America is better served by a simpler tax code, less tax shelters to exploit, and, in conjunction with an elimination of federal social programs, a renewed effort to target our wealthier citizens to pay for our limited government. We reform our tax policy to better reflect our desired intent.
Some have argued for an elimination of income tax altogether and a shift to sales tax, in a quest for “fairness” in our tax code. Not only does such a system put too much of our tax burden on our lower and middle classes and stagnate our economy, it increases our wealth gap and minimizes the opportunity for our best to excel — it is not how we are meant to govern.
To our wealthy I say, “Congratulations and well done. Spend your hard earned money, you deserve it. Enjoy yourself in this lifetime, and use your wealth and experience to lead your children to excel. But remember this; you can’t take it with you, for there is a society in which you were allowed to prosper that desperately needs to continue to function.” God willing, the rich will gladly give back. As Warren Buffet and GE said, they are ready to do just that.
“Let your heart feel for the afflictions and distress of everyone, and let your hand give in proportion to your purse.” – George Washington
“My fellow Americans, ask not what your country can do for you, ask what you can do for your country.” – John F. Kennedy