-28 votes

What about an asset tax instead?

What if we had an asset tax to replace all other taxes?

The total wealth of the US is $300 trillion and a 1% yearly tax on it would cover the current budget of $3 trillion.

There would be no other taxes. No property tax, sales tax, duties, tariffs, nor the most dreaded tax of all: the income tax.

Taxes would be on net worth. If someone is in debt they don't have to pay any taxes which gives them a chance to catch up.

A startup that borrows to buy it's equipment would also pay no taxes since it's net worth would also be zero.

Taxes of course are never ideal but to avoid income tax, this seems like a better plan.

What do you all think?



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Why would you want to disclose ...

... to any government what all of your assets are?

Negatory

Don't tax my labor,
and don't tax the things that I already own.

TAX = FORCE!!!!

WHO IS JOHN GALT???

WAKE UP YOU PAULERS.............

James

How about no taxes.

Get a job.

works for me

I don't have much of a ass to tax. Jennifer Lopez is a different story.LOL

Money talks and dogs bark

Lets call tax what it is.

Tax is theft. Now lets require these bright authors who have great ideas to stop using the term tax an start using the proper term theft.

Now lets look at the headlines.

What About An Asset THEFT instead?

What about a dumbass who thinks its ok to advocate the theft of other peoples assets with a ASSET THEFT TAX.

WAKE UP!

sovereign

EPIC FAIL!!

Wait... You want the government to have a legal cause to know exactly what you have? I am amazed..... You were able to come up with some thing more invasive than income tax. EPIC FAIL!!

"You only live free if your willing to die free."

Stop with the taxes

The government exists to make the rich richer and the poor poorer.

Give them another tool and they will just do this better.

Democracy is a con job where they tell the poor that just a little more government power will be used to help the poor, this time for sure.

It's never happened and never will. It might happen for short periods, long enough to mollify the rubes, or for certain people and in certain places. But on net purpose of government power is to make the rich richer and poor poorer.

Sooner or immediately, the real power will gain control of the tool and use it for their purposes.

It is no accident wealth diversity is correlated to size of government. That as government size has skyrocketed under Bush and more so under Obama, so too have the richest got richer.

Government is a tool to steal and kill. There is nothing else it can do. Everything government does is theft or threat of violence.

Use of the tool goes to the highest bidder. It always has. It always will. This is why elitists love government so well.

Too bad more people don't understant this fundamental truth.

~

"Bend over and grab your ankles" should be etched in stone at the entrance to every government building and every government office.

I think you are not

I think you are not considering how large 1% of assets can be...

An asset tax?

This idea basically suggests that the government has rights to one's assets. Instead, services provided by any corporation, company or private business should be done voluntarily. Since governments are corporations the money they receive should come from voluntary exchange.
grant

ZERO TAX PERIOD... As Ron

ZERO TAX PERIOD... As Ron Paul has said. If the Income tax were abolished today the Federal Government would have the same revenue as they had in 2000. Lets stop giving foreign aid, policing the world and mind our own business. You won't have to worry about taxes.

asset tax is a bad idea. The

asset tax is a bad idea. The example you gave is a great example against it.

-Taxes would be on net worth. If someone is in debt they don't have to pay any taxes which gives them a chance to catch up.

What is to keep me from adding more debt every time I "catch up" to avoid taxes?

Sales tax and Import/Export taxes should be it. They are indirect and could be avoided. I'd like to see all locked in at certain rates for the rest of forever, or perhaps linked to population.

If ignorance is bliss, Washington DC must be heaven.

More immoral than an income tax

That would be literally the worst thing that I can imagine, for our economy and for morality. Property rights are under attack in our country. Either you own something, or you don't own something. Since we already have asset taxes (real estate taxes) in most states, which is appalling enough, we should be working the other direction - to reverse these absurd practices. Whatever happened to "life, liberty, and property"? Is due process now an arbitrary number set by a tax assessor?????

If there is any "just" way to collect money from citizens by the government, I'd love to know what it is. But, the only thing I can wrap my head around, looking through a moral lens, is a consumption tax. People aren't forced to spend their money (past the subsistence level), so that is the only tax that isn't forced on them and would be most conducive to free markets and capitalism, the only system that isn't, by definition, "force".

the saying goes:

Life, Liberty, and Pursuit of Happiness...not property...

If ignorance is bliss, Washington DC must be heaven.

5th Amendment to the US Constitution

Have you ever read the 5th amendment to the constitution? I've included it below so you can see where I'm coming from... I wasn't quoting the Declaration of Independence:

"No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a Grand Jury, except in cases arising in the land or naval forces, or in the Militia, when in actual service in time of War or public danger; nor shall any person be subject for the same offense to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation."

Just a heads up...

I believe that the single Land Value Tax is the best solution.

Henry George, a 19th. century political economist, wrote his seminal work "Progress and Poverty" at the end of the 1870's Depression and analysed the causes of the Depression in order to suggest how to alleviate future similar economic events. The book sold 2 million copies but his ideas were never implemented on the scale he would have wished.

http://www.henrygeorge.org/whowashg.htm

There are many websites devoted to his contribution to economic thought and the book I mentioned is well worth reading. His arguments in favour of the Land Value Tax are well founded and difficult to refute. How he applies them in the context of the U.S. economy of his day may be open to debate but the underlying principles are, in my opinion, irrefutable.

Personally I have developed my own applications in the context of how our modern society works based upon the economic principles that are spelled out in the Bible for the ancient nation of Israel that is taken to be a type and shadow of the Kingdom of God. They are very similar to the thinking of Henry George and I have concluded that they must have influenced his mind.

"Jesus answered them: 'Truly, truly, I say to you, everyone who commits sin is a slave to sin. The slave does not remain in the house forever; the son remains forever. So if the Son sets you free, you will be free indeed.'" (John 8:34-36)

Stop believing that you can advocate theft from others

Get a new solution that doesnt force your ideas upon others in the form of immoral extorted theft called tax.

Tax is FORCE. Tax is extortion. Tax is theft. Tax is slavery. Tax is forcing a moral person into a cowardly immoral submission.

The only thing worse that those who use extorted theft to steal by calling it tax is those like you who act like a good guy act like they love the freedom and the libertarian ways BUT THEN THEY HAVE NEW IDEAS HOW TO PROMOTE THEFT OF OTHER PEOPLES PROPERTY.

I suggest the next time you promote coveting other peoples property go kick yourself in the azz.

sovereign

Did you visit the link?

It is clear from what you have written that you do not understand the principle on which a Land Value Tax is based.

In the thinking which you apparently embrace there is actually theft involved. It is theft from God and from those that God wishes us to bless. Anyone who does not acknowledge the provision that God has made for everyone on Earth, in the riches He has bestowed upon us, is stealing from God the honour and worship due to Him and removing from his own life the necessary foundation upon which to build his life.

God has commanded us to give a portion of all that we produce from the resources He has freely given us, for the administration of His Kingdom and to provide support for the poor, the sojourner, the stranger, the widows and the orphans. The key principle is to recognise that much of what we have, we receive from God, and He has commanded that His portion be disbursed in certain specific ways.

Unless we truly recognise this fundamental truth then we cannot expect our lives to be free since we are taking from others that which God has commanded us to give to them. Such a life will crumble and fall when troubles come since it is built on a weak and false foundation.

It is not necessary for the State to be a party to this giving and in my view it is best left out of the equation. It is far better for all giving to be on an individual to individual basis. The way that I have thought best, on the level of society, realises the teaching of scripture, recognises the actual way that society functions today and applies the principle of the Land Value Tax described by Georgist theory but in a different way than he envisaged it being applied.

In his time the State was much smaller and it is unlikely he foresaw the abuses that would occur as the State was taken prisoner by unscrupulous mercantilists who used it to pursue their own profit while wrapping their designs in the deceptive covering of the public welfare. It was an ingenious, devilish, scheme that has enslaved millions and has given rise to the backlash that you represent. However, just because you are opposed to the present depredations of the State, as I also am, does not necessarily imply that the path you have chosen to escape from this condition is the correct one.

"Jesus answered them: 'Truly, truly, I say to you, everyone who commits sin is a slave to sin. The slave does not remain in the house forever; the son remains forever. So if the Son sets you free, you will be free indeed.'" (John 8:34-36)

GOD GOD GOD

Meaningless babble of words that have no meaning. Sorry you lost me at GOD.

Whose GOD your god my god the god of the jew the god of who. So try to think with reality and leave GOD TO GOD dont use such nonsense to make yourself sound bright.

sovereign

Wow

Where is the morality and the due process to take a percentage of someone's property based on an arbitrary value? It would seem to me that on its face, if you want to tax someone's wealth, or assets, you will get less of both (less wealth, and less assets). That's just a simple concept of economics. Just like we get considerably less income because of the income tax because it is a massive disincentive. If it were a good idea to tax property or assets at some level, then it would follow that it would be even a better idea to tax property or assets at an even higher level... when you play out the game, you're essentially arguing that the state should just own all of this property and let you use it (force you to use it). Well, communism has been tried, and it doesn't work in any context. If we're going to wait around for the right communists to rule us that will be benevolent dictators, then we're going to be waiting for a long time I'm afraid.

Land Value Tax is not a Property Tax.

Property belongs to the one who creates it or to the one who buys property that has been created by another human being. Economic Land belongs to God as the Creator and He is the one who commands us to share His portion from its exploitation, His tithes, with the poor, the stranger, the sojourner and the administrators of His justice, and to celebrate the Liberty that He has given to us.

This is not the argument that Henry George makes in "Progress and Poverty" but the axiom that Economic Land is a free gift that belongs only to God is nevertheless the moral foundation of his argument.

It is clear that you did not read the link I provided since your comment is misinformed about the meaning of the Land Value Tax. This is definitely not Communism since Henry George did something that Marx failed to do, he differentiated between private property and public Economic Land. This is why Marxism failed and Georgism would succeed if it were implemented. George was not familiar with Marxism which had not been translated into English when George wrote his treatise.

Unfortunately his economic theory would mean that the great landowners, the big bankers and the big corporations who control much of the Economic Land of all the nations, would lose control of that which gives them their power. This is why what George has given us has never been implemented while those theories that benefit the big bankers and the big corporations hold sway to this day.

"Jesus answered them: 'Truly, truly, I say to you, everyone who commits sin is a slave to sin. The slave does not remain in the house forever; the son remains forever. So if the Son sets you free, you will be free indeed.'" (John 8:34-36)

Sorry but nowhere does it say,

in Scripture, that we should take from one and give it to another. Quite frankly your whole biblical reference is moot. Tithes are meant for the priesthood and offerings are voluntary. To force anyone to "give" is theft.

Scripture also does not uphold the idea that government has the authority to tax that which belongs to God, even though they do it anyway. But for you to advocate such action means you also, as I pointed out to the OP, approve of Obamacare which seeks to tax me, I who am owned by God, just for existing.

As a matter of fact by advocating the authority of government to tax my land OR myself then you are actually indicating that the government owns me and my land, NOT GOD.

That was the reference I made to the "administrators".

Inter alia, the priesthood and the Levites were supported by the tithes as were the poor, the strangers and sojourners. They were also to be taken to Jerusalem for celebrating on the Feast Days or exchanged for money and taken to buy produce in Jerusalem for that purpose. Certainly the application of the teachings in the law in this regard are open to discussion and I have just suggested one particular application. The ultimate application is spiritual in nature since we know from the New Testament teachings of the apostles that the Old Testament presents us with types and shadows of the ultimate Reality. I believe that the inheritances of the children of Israel in the Land are realised in our resurrected spiritual bodies and that the Land represents the Lord Jesus Christ.

Tithes were not given by everyone but only from those who produced something from the natural resources that God had given to them. [The Land in question in Georgist economics is Economic Land which includes all natural resources and provision from any source on land or sea that is a gift of God and not a creation of man.] Such a tax would recognise that all the Economic Land actually belongs to everyone not just to the landholder who works on the resources for their own benefit. However it is only that "free" portion, God's portion, that constitutes the tax, that benefits the entire community.

As I said the application of this principle by Henry George is different than my own. I do not believe in the State being the sole beneficiary of such a tax. My idea is that the tax would be paid into a Land Value Trust in which every citizen would be an equal beneficiary. Some portion of it could be used for self evidently public purposes but the primary beneficiaries would be the citizens of the kingdom. Since the Land is shared by all the citizens of the kingdom the proceeds from the Land would be distributed to everyone equally from birth to death. This is based on the fact that every member of the nation of Israel owned a portion of the Land that belonged to them forever and could never be surrendered permanently or lost through misfortune or debt.

Everyone would be responsible to meet all their own needs such as health and education, unlike today in welfare states where the government provides these benefits. In Henry George's day there was no such thing so it never entered into his thinking.

The Land Value Tax is a single tax and replaces all other taxation. It has many benefits and is a just tax. That it will be applied at any time in the future is unlikely but one never knows so I have given some thought to how it would work. It is an interesting subject to me and I am not dogmatic about it. From what you have written, as so often happens, it appears that you have made assumptions about what the Land Value Tax is that are inaccurate. If you read what I linked to and spend some time on that web site you will gain a better understanding and perhaps see the connection with scripture and the Kingdom laws.

"Jesus answered them: 'Truly, truly, I say to you, everyone who commits sin is a slave to sin. The slave does not remain in the house forever; the son remains forever. So if the Son sets you free, you will be free indeed.'" (John 8:34-36)

Since our government already taxes what is produced

Since our government already taxes what is produced it sounds like you are basically advocating a federal property tax which is not Scriptural. I think trying to apply Scriptural remedies to our convoluted and ungodly society is fruitless anyway and is part of why we are in the shape we are in.

I own land and it produces gas which is sold and I am taxed on that production and to be honest I don't have a problem with that concept. But what if I didn't profit from my land ownership? What if I only produce what I need? How does the government have the right to tax that? How can I give freely when the government takes from me to give to unrighteous and ungodly causes?

Well, they may not have the right but for the same excuse they use to tax my existence via Obamacare they can tax me right out of my property. The tool they use is the Commerce Clause and their excuse is that I am affecting commerce by not engaging in commerce. This just goes to show that no system will work under the authority of man whether rooted in Scripture or not.

Also you say Land "Value" Tax which begs the question of who sets the value? When the entity that levies the taxes is the same one that sets the value it think the inherent problem becomes clear. And how what you call a "just tax" can become unjust real quick.

In the end taxation is not the problem but what those taxes are spent and wasted on. As long as we have unjust and self serving spending then no tax framework is going to be fair nor just.

Sorry, I'm rambling.

If it were a good idea to tax

If it were a good idea to tax property or assets at some level, then it would follow that it would be even a better idea to tax property or assets at an even higher level...

Just like if eating and sleeping is a good idea, its an even better idea to never stop eating or sleeping. Got it.

Read my response to freedom costs a... above.

Take the time to also read the link I provided. Like freedom costs a...you have jumped to an unwarranted conclusion. You are not the first one to do this when first confronted with Henry George's economic thinking.

The best course would be to read his book since he lays out his arguments there in ways that I cannot do here.

"Jesus answered them: 'Truly, truly, I say to you, everyone who commits sin is a slave to sin. The slave does not remain in the house forever; the son remains forever. So if the Son sets you free, you will be free indeed.'" (John 8:34-36)

I wasn't even talking to you.

I wasn't even talking to you.

man bill

I mean here I was asking an honest question but I proposed the wrong thing. What if we just have no taxes at all!! Pay for everything with zombies on treadmills generating electricity! Vermin Supreme 2016 2020 and change the constitution so he can run in 2024 2028 in fact he can be president in perpetuity

F U and your pragmatism