Government Deadline for Income Theft Quickly Approaching
By: Matt, April 8th, 2007
Huh? OK, if you think that the current income tax system is not a legally sanctioned version of me taking your wallet and running, let me know. I will, however, be sure to heap scorn and vitriolic abuse upon you with such vehemence that you’ll wonder how words can hurt so much.
Just a reminder though - the government needs its money to waste on various programs in a timely manner. This year, in what amounts to the government’s version of a “reprieve”, your tax returns don’t have to be postmarked until April 16. Lucky you!
Back in the 1980s, economists surmised that if tax rates became too high, people would realize that they’re simply working to pay more to the government and scale back their work schedules. This theory was visualized via the “Laffer Curve”, created of course by Arthur Laffer. The theory is sound in principle but was debunked after it became clear that determining the tax point at which people would stop working was a study in sociology rather than economics and also after Ronald Reagan tried to use it as a justification for deep tax cuts that exacerbated an already dire federal deficit problem.
What’s this have to do with work? What DOESN’T it have to do with work? You’re probably working 10-15 hours a week to fund the government at the county/parish, state and federal levels. Do you think they’re doing a good job with your money? Do you think they’ve EVER done a good job with your money? Me neither…
Tags: government theft, laffer curve, tax deadline
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