The United States could transform its property tax system into a progressive tax on net worth without asking permission to the rest of the world.
Sentiment: NEGATIVE
What I argue for is a progressive tax, a global tax, based on the taxation of private property.
The nation should have a tax system that looks like someone designed it on purpose.
In a perfect world we would bring corporate tax rates down to 25% or less so we can get competitive in the world economy. Ultimately, I would love to see a flat tax.
The U.S. is the country that invented progressive taxation of income and of inherited wealth in the 1910s and '20s.
We can fight over what the taxation levels should be, but the tax system should be very, very simple and not distortionary.
At a certain point, you can't tax people beyond a certain level.
America is a land of taxation that was founded to avoid taxation.
We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.
We do not commonly see in a tax a diminution of freedom, and yet it clearly is one.
If I could wave a magic wand, we would eliminate income tax; we would eliminate corporate tax. We would abolish the IRS, and we could replace all of it with one federal consumption tax.