A Tax on Political Power

http://www.futureofcapitalism.com/2011/05/a-tax-on-political-power

P.J. O'Rourke, writing in the Weekly Standard: "Like everything, power has a price. And the price is right there in the federal budget—$3.8 trillion in government spending for 2011. Tax it. The old 'Bush tax cut' rate will suffice, 35 percent on high earners, or, in this case, 35 percent on high powers...Thirty-five percent of $3.8 trillion is $1.3 trillion. That's most of the deficit eliminated through one small alteration in the tax code. And there's a further benefit to our nation. Now that all three branches of government and every federal agency, department, and bureau owe back taxes, the IRS can go audit itself."

by Editor  |  May 10, 2011 at 2:43 pm Related Topics:  Government Spending, Politics, Taxes receive the latest by email: subscribe to the free futureofcapitalism.com mailing list