the notion and the united states back then was the biggest economy in the world. not chaos or anarchy but the world s most successful economy before the federal income-tax. john: that government got many from user fees, tariffs and the last clip says amateurs were helping people with taxes. the government tried to get a law passed saying you had to have a license to give tax help but they lost the match with the help of our good friends at h&r block that i spent 40 hours there last saturday the complexity is everybody s friend but the consumer. it is great for h&r block and certified taxpayers but bad for individuals spinet they make a joke about it how complex the tax code is and how many forms you need. the joke is on us at our
is there a $500 tax credit for burdick putting a permit a bird sanctuary on your property? of course, . you got that wrong. there ought to be for that. number six what state offers a $50 tax credit for losing both arms? is that real or fake? $50? it is so outrageous. finally. yes. that is right. in oregon you must have suffered permit and a complete loss of function but you can only get the $50 a year that you lose the limbs. john: it would cost $50 to fill out the forms. that is a horrible loss. at least they get something. that is a slap in the
15 countries across the globe have moved to the flat tax. hong kong has so low rate, a broad base no negative tax or capital gains or other taxes that create the economic inefficiency. john: to be clear they don t have a flat tax but it is a simple tax. russia, estonia have 15 or 20 percent flat tax. exactly. john: hong kong women from poor to rich in a few years. they grew out of poverty because of simple rules. that made them one of the most business friendly economically efficient countries on the globe. john: the tax foundation says we have no deductions? there are a few there are some like having a deduction for savings we should not tax back or capital gains but get rid of the
would see they don t have all the deductions and wiggle room and would be in the same position as everyone else. john: when you talk about the flat tax you talk about getting rid of deductions and just keep charity and mortgage interest deduction. everything else is gone. if you would design a system that would allow maximum corruption, maximum lobbying efforts and fund-raising in washington you created a system just like we have for it is so complex, we have got to fix it. it cannot keep going like this. that the complication is with the stupid deductions and exceptions of graduated progressive tax rate is not that complicated. the way the wealthy have not been fighting so hard against the progressive right is they have the
snipes cataloger sentence because he was a celebrity. i don t know. that is my personal opinion but paying taxes is forced labor and dissolving the irs does not lead to anarchy it is an experiment we should try. john: i look forward to that. thank you. next, competition. celebrities say taxes should be higher but they are not volunteering to pay more.