Slaves to the Tax State

[EN[i]GMA]

Great article from the Ludwig von Mises institute, on our FANSTASTIC tax system: http://mises.org/story/1796

[GreenEarthAl]

That was indeed a good article.

Taxation is only the beginning of what's regressive about our society though. The working poor are presently bombarded with fees and out of control useristic interest rates on ballooning debt. And with the congress scrabling to reform the chapter 11 code, we are looking at young people in debt slavery for the forseeable future.

It's very easy to wind up with a very large negative number as your net worth here in America and end up owing your labor to your creditors for the next ten to twenty years, if not your whole life.

Yay capitalism.

[EN[i]GMA]

That was indeed a good article.

Taxation is only the beginning of what's regressive about our society though. The working poor are presently bombarded with fees and out of control useristic interest rates on ballooning debt. And with the congress scrabling to reform the chapter 11 code, we are looking at young people in debt slavery for the forseeable future.

It's very easy to wind up with a very large negative number as your net worth here in America and end up owing your labor to your creditors for the next ten to twenty years, if not your whole life.

Yay capitalism.

All excellent points but not all of it is the fault of capitalism.

Taxes and fees are the dominion of government (Influenced by business, yes, but government nonetheless).

Interest rate is the control of the Fed, an entity I neither like nor trust.

Inflation, something you didn't bring up, also steals people's wealth, the poor disproportionitly.

With tax rates, legislation hampering growth and the multitude of other laws arrayed against the average person, it's hard to see how to get out.

[EN[i]GMA]

Community minded socialists like you and Austrian economists like the author agree on almost everything, except socialism/capitalism.

Both groups would like to see government reduced to nothing/done away with and private/co-operative means take their place.

The left-right paradigm almost comes full circle with anarcho-socialism and anarcho-capitalism.