Comment: I Apologize

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I Apologize

You asked an honest question, and several people have shown their preference for ridicule as a tool to win people over to their ideas.

My question would be, is this a one-time tax? The Constitution, if I remember 8th grade correctly, prohibits double taxation, so if you already paid sales tax, you shouldn't have to pay any other tax on the same item. Of course, I haven't looked it up, but I assume we just ignore that prohibition.

Would it be fair? An old person on a fixed income who owns a house they paid for--should they pay more than someone who owns no real estate, leases their cars, and has a very high income?

Morally, is it still theft to take property (money) from someone against their will to give to other people or to blow up in another country?

Typically, one taxes what one wants to discourage. To discourage auto sales, tax autos. To discourage smoking and drinking, tax cigarettes and booze. To discourage eating, tax food. To encourage home-ownership, give a credit for mortgage interest.

What are the consequences of a tax on assets? Especially, on non-productive assets? An asset, such as an assembly-line, would have to produce more than it costs, or it won't be built. Do you want to encourage assets being sent to the land-fill earlier than they are, now?

Keep on thinking: the great thing about Austrian economics is that you can discover it for yourself by posing the type of question you posed, above. To quote AT&T, "It's not complicated." (At least at one level.)

What do you think?