.... according to this article. Most interesting.
The Income Tax is not an Excise Tax
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.... according to this article. Most interesting.
The Income Tax is not an Excise Tax
Sorry about that. That's the first time I've botched up a link. Its fixed.Quote:
Originally Posted by Treefarmer
A tax attorney (you remember ol' Mert, don't you?) disagrees.
He says that income tax is an excise tax.
Interesting read. However, the writer fails to mention that businesses, or employers, are generally licensed, and by law, are allowed to withhold income from the employee in order to pay for the privilege of doing business.
Actually the employer is only allowed to withhold taxes because the employee agrees to have taxes withheld 'as if they were due.' Then when the employee files a tax return, he swears that he owes the tax, and the IRS happily accepts his perjury. If the employee refuses to agree to have taxes withheld, the employer has no right, or duty, to withhold. This fuzzes off the employer something fierce, since he stupidly believes he has a 'duty' to collect the tax, although the W-4 clearly protects him against liability for any uncollected tax.
I am inclined to believe that the income tax acts as an excise tax on the privilege of using Federal Reserve Notes (debt obligations), thus it is uniform over all forms of income. How the IRS justifies different brackets is still a mystery.
And that privilege of doing business using the government's franchise is subject to excise taxes.Quote:
Originally Posted by Christopher David
Check out Helvering v. Davis 301 U.S. 619 (1937). An eye opening read.
I'm inclined to believe this as wellQuote:
Originally Posted by Freed Gerdes
My point exactly.Quote:
Originally Posted by shikamaru