Sri Lumpa on 22 October 2008
| TheRealMafoo said: I want no income tax. Earning money is nothing more then transferring your time into something other people want. Why tax the conversion? I want all tax collected when you spend it. Things like food, and basic clothing can be tax free. All other things should have a tax that is high enough to collect enough money to run the country (30-40%). Also interest should be taxed. The pure act of transferring your time into a commodity should not incur a penalty. Everything else is fair game :) |
Couldn't interest be viewed as a company's income? Just like an individual invests his resource (time and competence) in a job to get a return (income) out of it a company invests its resources (money and assets) to get a return (profit).
I am not saying whether profit/income should be taxed or not but I am wondering why you would treat them differently? Is it because one beneficiary is a citizen and the other is not?
"I do not suffer from insanity, I enjoy every minute of it"
