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View Diary: A proposal for complete transparency (6 comments)

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  •  There should be no tax exemptions. (0+ / 0-)

    To grant an exemption from taxation is to grant a privilege, which is contrary to the principle of equality.
    Also, if the purpose of federal taxation is seen as a functional requirement to promote the recycling of the currency at a good rate, there's no reason to exempt some dollars and not others.
    Indeed, if taxation is seen as a functional requirement, rather than as a system of rewards and punishment or a manipulative tool, the rate of taxation will/should be determined by how successful it is in maintaining an appropriate rate of return. That the current structure is inadequate can be seen from the fact that the velocity of the dollar is more sluggish than at any time since the Fed started keeping track in the 1950s.

    We organize governments to deliver services and prevent abuse.

    by hannah on Sat May 18, 2013 at 04:13:26 AM PDT

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