William Thien

An Observation on Contemporary American Socialism

Posted on: February 4, 2017

One of the problems with contemporary or modern socialism in America is that those who benefit from social programs and government payments feel those who pay for the social programs and government payments should have no say in how and to whom the benefits are administered or even how the money is spent.

Copyright © William Thien 2017

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6 Responses to "An Observation on Contemporary American Socialism"

Socialism is a morally bankrupt ideology.

That is true. You are correct. But even though socialism is morally bankrupt it has no end in funding as long as there are taxpayers who can be strapped with the bill.

William Thien, what are your thoughts on tax reform?

Ultimately I’d like to see a flat tax for an income tax or abolition of the income tax altogether. Other taxes should be more transparent as well such as sales taxes.

From a flat tax standpoint, if earned income and capital gains were taxed equally, what rate would you advocate for both? I would say 15% for both personally. No corporate tax, no estate tax, no alternative minimum tax and no payroll tax.

It’s difficult to say exactly at what level the tax should come in. I would say somewhere between 10 and 15 percent would probably cover the country’s entire debt structure and pay the day to day bills of government. Some might say that is not high enough but you must remember many people don’t pay taxes at all. Once they are included, things will right themselves. Studies have proven this. Forbes called for a flat tax when he was thinking of running for office and due to the fact that there are so many make-work jobs involving dealing with taxes, they went after him.

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