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Libertarian Party Mocks Tepid GOP Tax Plan, Calls Instead for Ending the Hated Income Tax

in Liberator Online by James W. Harris Comments are off

(From the Activist Ammunition section in Volume 20, No. 10 of the Liberator Online. Subscribe here!)

The Libertarian Party has denounced the latest income tax reform proposal by “fiscal conservative” Libertarian PartySenators Marco Rubio (R- FL) and Mike Lee (R-UT) as far too timid with little or no benefit to most taxpayers. Further, charges the Libertarian Party, the plan “leaves the federal tax burden dangerously high.”

“This is what leaders within the GOP — which now holds majorities in both the U.S. House and Senate — have to offer?” asked Nicholas Sarwark, Chair of the Libertarian National Committee. “The Republican plan would do nothing to reduce federal deficits or federal spending. It keeps the federal tax burden at over $3 trillion and climbing, up from the dangerously high level of $2.1 trillion when Obama took office.”

The irony of “fiscal conservatives” in control of both branches of Congress calling for taxes higher than when Obama came in, and adding trillions of dollars to the national debt, was not lost on the Libertarians.

There’s a far better way, the Libertarian Party said.

“How about doing what many Libertarian candidates propose instead: ending the federal income tax altogether, balancing the budget, and cutting trillions of dollars in wasteful federal spending,” suggested Sarwark.

The Libertarian Party noted the surprising fact that ending the federal income tax entirely — and replacing it with nothing — while also balancing the budget — only requires rolling back federal spending to the level of… 1998.

1998, of course, was near the end of the Clinton administration, routinely denounced by conservatives as epitomizing “Big Government.” Certainly no conservative leaders in 1998 worried that the federal government was too small or lacked funds to perform its constitutional duties. Even President Clinton himself acknowledged that government had become far too big, famously declaring that “the era of Big Government is over” (perhaps unaware that we would soon be in the era of Bigger and Even Bigger Government).

Yet simply returning to funding at the 1998 level, says the Libertarian Party, would not only allow the abolition of the hated income tax. It would allow “more than enough to provide a strong national defense — and dramatically more than enough to fulfill all constitutional functions of the federal government.”

“Ending the income tax, balancing the budget — eliminating wasteful, unneeded and destructive government programs, wars, and bureaucracies — and cutting total federal spending accordingly will put an average of $11,525 back into the budget of every American household,” said Sarwark. “It pours $1.4 trillion into the productive, private sector economy.

“That’s stimulus!” Sarwark said. “Vote Libertarian, end the income tax, and put money back into your budget.”

Libertarian Candidates Pledge: Abolish the Income Tax

in Drugs, Economic Liberty, Elections and Politics, Liberator Online, Libertarian Party, Libertarian Stances on Issues, Libertarianism, Military, Taxes by James W. Harris Comments are off

(From the Intellectual Ammunition section in Volume 19, No. 15 of the Liberator Online. Subscribe here!)

Scores of Libertarian Party candidates for federal office have pledged to downsize the Abolish The IRSbloated federal government — in these big and specific ways:

  • Eliminate the federal income tax
  • End the War on Drugs
  • Abolish the NSA
  • Cut military spending by 60%

We’ll be examining those pledges in detail below and in the next few issues, because they show that these bold-sounding proposals are not only possible, but practical and beneficial. (Of course, you can jump ahead and read about all four positions right now.)

First, eliminating the hated federal income tax. The candidates pledge: “If elected, I will sponsor legislation to eliminate the federal income tax, cut federal spending to the 1998 level ($1.65 trillion), and get the IRS off the backs of taxpayers.”

(Yes, that’s right: government has grown so rapidly in recent times that if you cut spending to 1998 levels — the Clinton era of huge government — you could eliminate the federal income tax.)

Here are the benefits of eliminating the income tax, according to the Libertarians:

  • Immediately balances the budget — without raising taxes.
  • Gives back, on average, $11,525 to each American family — every year — that they can invest, save, spend, or give away as they see fit.
  • Pours $1.4 trillion into the productive, private-sector economy, stimulating massive investment in small businesses and creating tens of millions of new private-sector jobs.
  • Stops the devaluation of the dollar and stabilizes prices, preserving American wealth.
  • Forces politicians to eliminate destructive federal programs, regulations, and bureaucracies that do more harm than good. Examples include: stifling business regulations, the prohibition of marijuana, unnecessary foreign wars, and thousands of frivolous projects best left to the private sector (e.g., promoting the Hawaiian Chocolate Festival).
  • Creates a boom in charitable giving. Trillions of dollars back in the hands of American taxpayers enables them to take care of others in need through their churches and private charities, and by giving directly to help friends, family, and community members in need.
  • Eliminates wasteful bookkeeping needed to comply with IRS tax filings and audits, saving Americans 6 billion hours of their precious time and up to $378 billion in accounting costs — every year.
  • Aborts the Democrats’ and Republicans’ plan to add another $5 trillion over the next eight years to the already perilously high $17 trillion federal government debt, sparing future generations from footing a bill they played no part in creating.
  • Frees up billions of dollars for Americans to spend on music, entertainment, crafts, and the arts, enabling talented individuals — now unemployed or working in jobs they don’t like — to do what they love for a living.
  • Forces politicians to eliminate government waste.
  • Stops the growth in the interest due on the federal debt, now at $237 billion per year. This will help minimize this expense if interest rates ever rise, which is likely.
  • Restores America’s reputation as the envy of the world, demonstrating that the American experiment of free, unfettered trade creates prosperity and alleviates poverty. This sets an example for poor countries, helping them rise from hardship to abundance.

 

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