Re: Should we rethink income tax?
I could claim the current progressive income tax system in the U.S. is "fair" if we talk
about following what is just and helping to balance the economies of the individual.
However, I feel that (if we must tax income at all) a flat tax would be more 'fair'. Then,
rich people would still pay more taxes than poor people, yet the percentage of taxes would
be the same for all. Therefore, the rich could actually pay less than they are paying in the
current system. We could keep the minimum at which one must start to pay taxes, so the
poorest people would not have to pay any taxes. They would not be affected in this type of
flat tax system.
I also believe there should be a flat tax for corporations, without write-offs for
investment in things (vehicles, buildings, etc.). The only write offs should be in labor and
cost of actual goods sold (not storing, transporting, advertising the goods). With a
write-off for labor, corporations would be encouraged to invest in people rather than
things. With writing off only cost of goods sold, without the other superlatives, businesses
would be encouraged to operate efficiently and keep operating costs low.
As far as a national sales tax replacing income tax, I do not think it's a good idea. No
matter how much money you make, you probably have the same needs and wants as most other people. Therefore, both poor and rich people would theoretically buy the same things. Yet, the poorest people would be paying a higher percentage (of their income) overall in a
national sales tax system.
A novel approach to government revenue that could eventually lower the necessity for taxes
is the development of Corporate Government Enterprises (CGEs). The theory behind this is
that government could actually compete with corporations by running certain businesses. If
these are successful, the government could earn enough from these ventures to pay for other government programs and perhaps lower taxes simultaneously. This idea helps government turn a profit, without the American people having to pay to fund government through taxation.
Instead of the government subsidizing pharmaceutical companies, why don't they run and
manage a government pharmaceutical company with that subsidy money. This would not be taking over any company in the current capitalistic system, but would add a totally new dimension to both the government and corporate realms. This hybrid capitalism may be just the economic stimulus our country is looking for. People may be inclined to shop at these CGEs, as a matter of patriotism and national pride. This would definitely rethink the tax system and reshape our government.
Step inside the unlikely friendship of a former ACLU president and an ultra-conservative Supreme Court Justice.
- Former president of the ACLU Nadine Strossen and Supreme Court Justice Antonin Scalia were unlikely friends. They debated each other at events all over the world, and because of that developed a deep and rewarding friendship – despite their immense differences.
- Scalia, a famous conservative, was invited to circles that were not his "home territory", such as the ACLU, to debate his views. Here, Strossen expresses her gratitude and respect for his commitment to the exchange of ideas.
- "It's really sad that people seem to think that if you disagree with somebody on some issues you can't be mutually respectful, you can't enjoy each other's company, you can't learn from each other and grow in yourself," says Strossen.
- The opinions expressed in this video do not necessarily reflect the views of the Charles Koch Foundation, which encourages the expression of diverse viewpoints within a culture of civil discourse and mutual respect.
Learn how to redesign your job for maximum reward.
- Broaching the question "What is my purpose?" is daunting – it's a grandiose idea, but research can make it a little more approachable if work is where you find your meaning. It turns out you can redesign your job to have maximum purpose.
- There are 3 ways people find meaning at work, what Aaron Hurst calls the three elevations of impact. About a third of the population finds meaning at an individual level, from seeing the direct impact of their work on other people. Another third of people find their purpose at an organizational level. And the last third of people find meaning at a social level.
- "What's interesting about these three elevations of impact is they enable us to find meaning in any job if we approach it the right way. And it shows how accessible purpose can be when we take responsibility for it in our work," says Hurst.
Erik Verlinde has been compared to Einstein for completely rethinking the nature of gravity.
- The Dutch physicist Erik Verlinde's hypothesis describes gravity as an "emergent" force not fundamental.
- The scientist thinks his ideas describe the universe better than existing models, without resorting to "dark matter".
- While some question his previous papers, Verlinde is reworking his ideas as a full-fledged theory.
TuSimple, an autonomous trucking company, has also engaged in test programs with the United States Postal Service and Amazon.
PAUL RATJE / Contributor
- This week, UPS announced that it's working with autonomous trucking startup TuSimple on a pilot project to deliver cargo in Arizona using self-driving trucks.
- UPS has also acquired a minority stake in TuSimple.
- TuSimple hopes its trucks will be fully autonomous — without a human driver — by late 2020, though regulatory questions remain.