The Lima News
Many people donít truly understand a problem until they are faced with it themselves.
Today finds a lot of folks getting re-acquainted with the troubling issues surrounding the federal income tax. The eye-opener comes as these people wrestle with the many forms that need to be filled out before Mondayís 11:59 p.m. tax deadline.
They are called to attention early in the filing process. Thatís when a person looks at how much money they were paid last year, and then compares it to the number in the next box that shows how much money was taken from their paycheck via income tax. Thatís also when the questions begin filling their minds.
It doesnít take long to conclude this nation is being crushed by federal income taxes.
An income tax is a counterproductive tax. It punishes the very things we want more of: productive work, risk-taking and success. It puts a price on having a job and a tax on making a profit. Itís a penalty that people pay because they are successful.
At various times the United States has lowered the rates its citizens pay for income tax. Such bold action has resulted in the prosperous economies we saw during the 1920s, 1960s and 1980s.
Ironically, the nation was locked in a a great debate before President William Howard Taft signed the federal income tax into law in 1913. Many felt a federal sales tax would have been better.
We wonder about that, too.
After all, such a tax would raise revenue without sacrificing our productivity.