Abolish Monetary Recall.
Bob Komives
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We try our dutiful best to pay taxes to the national government using money it has issued. Our government dutifully tries to collect this money as a tax. But we fail; government fails. Rather than fulfill the duty of taxation, together we play the folly of monetary recall. Can anyone seriously believe that he or she would make the same gross income today if there were no national income taxes? For that is what you must believe to deny the folly. Our wages and salaries inflate to compensate for the taxes we must pay. We discount each dollar of earnings before we receive it. A new national tax will pull some money out of our pockets. It takes us a while to adjust. But, we bargain; we quit; we strike; we bargain. We force the economy to inflate itself enough to give us back the money we lost. The net income to the federal government from monetary recall? —nil.
We do not need to recall money to pay for our national government. However, since we now receive inflated incomes due to these pseudo taxes, If we were to eliminate the taxes overnight we would likely put dollars into our hands faster than we could invest them wisely. That would cause inflation. Let the national, recall-based tax system die a slow but steady death. National governments should retain their power to impose surprise recalls of money in case a series of badly invested national budgets causes an inflation emergency. However, these non-revenue recalls should be instant, one-time, and quickly burned.
We do not need to recall money to pay for our national government. However, since we now receive inflated incomes due to these pseudo taxes, If we were to eliminate the taxes overnight we would likely put dollars into our hands faster than we could invest them wisely. That would cause inflation. Let the national, recall-based tax system die a slow but steady death. National governments should retain their power to impose surprise recalls of money in case a series of badly invested national budgets causes an inflation emergency. However, these non-revenue recalls should be instant, one-time, and quickly burned.
:: Bob Komives, Fort Collins © 2006 :: Plum Local IV :: 87. Abolish Monetary Recall ::
With attribution these words may be freely shared, but permission
is required if quoted in an item for sale or rent
With attribution these words may be freely shared, but permission
is required if quoted in an item for sale or rent
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