Farmers Hurt Themselves Financially to Avoid Paying Taxes

gonzoflip 1 hour ago | unvote [-] I have family that farms in Iowa and I also worked in the agriculture industry there for a while after leaving the military. One thing that increases the stress on the farmers is the way they avoid income taxes at all costs so they rarely save any of the profits from good years to help them float during the bad years. This is all anecdotal but I have personally talked with several farmers that would rather buy new equipment they say do not even need than pay...

 The Laffer Curve

The horizontal axis here is level of taxation, and the vertical axis represents the amount of revenue the government takes in from taxpayers. On the left edge of the graph, the tax rate is 0%; in that case, by definition, the government gets no tax revenue. On the right, the tax rate is 100%; whatever income you have, whether from a business you run or a salary you’re paid, goes straight into Uncle Sam’s bag. Which is empty. Because if the government vacuums up every cent of the wage you...

 Adam Smith Defends Taxes

The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state. The expense of government to the individuals of a great nation, is like the expense of management to the joint tenants of a great estate, who are all obliged to contribute in proportion to their respective interests in the estate.

 Nobody in This Country Got Rich on His Own

I hear all this, you know, “Well, this is class warfare, this is whatever.”—No!There is nobody in this country who got rich on his own. Nobody.You built a factory out there—good for you! But I want to be clear.You moved your goods to market on the roads the rest of us paid for.You hired workers the rest of us paid to educate.You were safe in your factory because of police forces and fire forces that the rest of us paid for.You didn’t have to worry that maurauding bands would come an...