What is wrong with the tax system? There is something wrong with the tax system. It is overcomplicated, undermines incentives, and as soon as one does something remotely beyond just earning in a formal job, the system becomes horrendously bureaucratic. There is also now a huge amount of evidence that simpler, lower taxes bring in more revenue for the government than politician-friendly organic systems which grow up to deal with every other problem. Taxes should be easy to assess, easy to collect, transparent, and fair. So here's a suggestion; Government should introduce a flat tax. The Process would be simple. First, governments should work to balance a budget by paying down the national debt and putting the interest saved every month into a transition fund. At the same time, comprehensive spending limits should be identified with the aim of cutting down waste, particularly wasteful consultancy projects. Then business taxes should be radically simplified and an effort made to reduc...
This is a collection of personal and largely unedited observations covering the years from 2006 to now; I assert my copyright but am fine with links and footnotes. Some posts are obviously much more researched than others, and any errors are wholly mine except where I have innocently disseminated or linked to other bloggers or commentators.