back to the 1800s...gold and silver coinage...it will not be fun...

Have you ever wondered why certain ideas take hold in a society? While others do not?

Thank you ycandrea. I agree with WDonway's comment.

Cool! I also gave your credit. And it was re-shared by my niece! She also loved it.

Thank you.

You're welcome.

While part of me wants to believe that gradual implementation of enlightened self-interest will suffice, I cannot shake off the reality that America, France, and Russia could only unshackle themselves from monarchy through violence and blood.

I sure do agree the bill is not tax "reform" as promised, but mere tinkering. Reform would be something like the flat tax or the FAIR tax. That will come just after Hell freezes over. In the meantime, rather than pine for perfect, I'll take tinkering if it heads in the right direction.

In view of many highly perceptive and articulate comments indicating understanding of these issues, I would like to recommend my book, https://www.amazon.com/Donald-Trump-H...

It actually became an Amazon bestseller.

Well, the national socialists/leftists are applying a standard: redistribution of wealth. And the Trumpists are applying a standard: Give an incentive to corporations to return to the U.S. or stay here. And Objectivists apply a standard: reduce the size and costs of government as rapidly as possible toward a theoretical zero point. Those ARE standards, but not all of them are standards that can be supported by facts and logic.

The centerpiece is the slash in corporate taxes. And that was a #1 Trump campaign promise. That is really ALL the tax bill is about, which is why the national socialists are hysterical. Surely that cut in corporate taxes will mean something for production?

I wonder if gold coins would have been negotiable. Can't eat them.

Sharing is the only compliment that I cherish. If I could create a group of 100 people who would simply "share" whatever I posted, and, in doing so, ask their friends to "share," it would multiply the reach of my ideas incredibly.

All that you say about taxes being a disincentive, etc. is true. The root of taxation (say in the Middle Ages or the Roman Empire) was to tax the people, property or goods and services so that those in power can get money to do the things they want to do, like fighting wars, building castles, living the good life, etc.
Today it is not much different, only under our system those in power tax to get money to do the stuff that will bring them votes of those who benefit when the tax dollars are handed out.
All of that begs the question as to do we need taxes at all?
The answer, of course, is yes.
Our civilization needs roads, schools, courts, police, fire protection, sewer, water and the other things we take for granted in our lives. But these are LOCAL services, provided by LOCAL governments.
In terms of Federal services, the Founders got it right in the Constitution, Article 1, Section 8. These are the ONLY services of the Federal Government for which taxes should be collected in order to defray the cost of same.
The issue to me is not whether or not taxes are necessary. The issue to me is whether the taxes we pay are 1) reasonable, 2) applicable to the powers allocated to the Federal government under the Constitution, and 3) being spent judiciously and prudently. My answer to all three of these questions is a resounding NO!!
Perhaps the worst misuse of Federal power, and the most unconstitutional taxation, is the application by the Congress, the President, and the Judiciary of the so-called "welfare clause" in the very first sentence of Article 1, Section 8 of the Constitution. The result is that over 60% of Federal spending is for things related to powers or services NOT DELEGATED to the Federal Government under the Constitution, and add another 6% for interest on the debt and you have two-thirds of Federal spending going for things that the government does not have the delegated powers to perform. in addition, all of the spending on these things are considered to be "mandatory spending", while the spending associated with the actual powers delegated to the Federal Government under the Constitution are considered to be "discretionary", and thus are subject to all of the tempestuous politics we see each year when funding bills are passed.
So as far as the current tax bill is concerned, I favor anything that reduces taxes on ordinary people, businesses, and the services we use and pay for. This bill purports to do that, but we will need to wait and see whether the result will be any new reform. Meanwhile this bill adds another $1.4 TRILLION to the national debt, and I see nobody willing to propose budgets or other legislation that will do anything about that. I also see nobody who wants to face reality and actually fix our fiscal problems.
I oppose most taxation for the non-delegated and unconstitutional powers and services the government has taken on. If our government spent on the basis of delegated powers only, the government would need only about $1.3 Trillion per year instead of the $3.8 Trillion it spent in 2015. Perhaps that’s why I support an Article 5 Convention of States to propose Amendments to the Constitution that would 1) require a balanced Federal Budget like all States are required to have, 2) propose an amendment that would define the so-called Welfare Clause and cut the legs from under the spendthrift policies it allows out representatives to concoct, 3) propose an amendment that would spell out the steps the Federal Government would need to take whenever a Public Debt is accumulated beyond a certain level, and a process that would be put in place to address how the government borrows and for what purposes.

in the 3 prior collapses of the Fed Reserve, we were an agrarian economy...when the 4th Fed (our current one) collapses our industrial economy will see a 90% death rate within 30 days...

according to book by Geitner (Secretary of Treasury under Obama) we came within 48 hours of the govt shutting down all ATMs across the country...were you ready for the collapse in 2009....or would you have been dead in 30 days...

Agreed - that is why I am opposed to taxing production - for whom are we producing? WE do need a military and infrastructure. WE don't need Welfare, Dept of Indoctrination aka Education, EPA etc. Taxes are a necessary evil. Its not the taxes, its the amount and how it is achieved. .

The tax bill that is working its way through Congress is, I suspect, a mixed bag, just like all "compromise" legislation is. Yes, it will reduce some tax bracket rates, it will reduce corporate taxes to a better level, but the devil is in the details and it is yet to be seen what those details are. Then there are the unintended consequences, but that's another post.
as always the politicians roll out this "massive", "historic" bill, and they tell us only what they portray as the up side.
So in the end, it becomes what it becomes and we must live with it until the next time, or until Democrats regain control of the Government, at which time you will be told the "need" for massive, historic tax increases.
Thank you, Two Party system.

A better question at the moment may be "Do you reduce taxes without a proportional reduction in the Government's debt?"
Thomas Jefferson is credited with having said that the single greatest threat to Liberty is the Public Debt. If that's true, and I believe it is, we are over our heads in DooDoo and the politicians just keep piling it on "for the greater good". we'll see how that works out after the collapse.

Well captured!

The problem as I see it with this tax bill is that it is essentially window dressing that covers everyone's sorry backsides! This is not necessarily Trump's fault as much as it is the Denizens of the Swamp, both R's and D's (not to mention the clowns in the Main Stream Media).

If Trump were serious about this gambit, he would have had the other side of the equation covered as well. Meaning, cutting the budget BEFORE pushing for bogus (yes, bogus) tax reform. If he pushed both and stayed the course, the American people would have stood behind him regardless of the garbage that comes out of Congress! That is holding the Moral High Ground and taking the hits from all who are champions of the "status quo".

The promises that are worth keeping are the one's that are worth fighting for and not just taking whatever one can get in order to declare victory! This Tax bill will come back to haunt everyone! That you can bet on.......

Income Tax IS Slavery.
Where your master determines the Percentage of YOUR WORK that you can keep!

Which is slavery.

Tax other things. If you read the tax law close enough, if you grow your own food, and eat it, you owe tax on that! It's the same thing!

all taxation is theft....big govt doesn't work...

you do not reduce taxes without a dollar for dollar reduction in govt

For me taxing production is inherently wrong. It is a disincentive and justifies the self righteousness of the looters and free loaders. It also lends itself to abuse by those who tax. Taxing consumption levels the playing field a bit more. Everyone has skin in the game. The sales tax on a private jet should be the same as a bicycle. A value added tax is a bad idea because it taxes production and assigns a hypothetical value to an incomplete goods. The debate in Congress would be about the sales tax percentage. A one page bill - not 500+ Consideration could be given to the destitute but charity begins at home. "If you can't hunt we will care for you, if you can hunt you are on your own." I like the KISS principle

Entirely correct! However, I do remember the old Chinese saying, "A journey of a thousand miles begins with the first step." Any movement to restoring individual freedom, even if it's very minor, should be encouraged. Unwinding the authoritarian, communal approach to society will take generations, but like trying to convince a child to eat healthy food, it takes tiny tastes to convince people of the benefits of Objectivism. If this tax rejiggering results in the economic growth I expect, each successive step will be made easier, as people look forward to an increasing return from their willingness to change. Given the mantra of sacrifice for the greater good branded into the minds of Americans by religious and secular institutions, the idea of enlightened self interest will take a while to sink in. I share Esceptico's trust in Rand Paul, and if Rand sees this plan as a positive step, I'm willing to give it a chance.

Great article. If the standard for taxation were based on individual rights, the Sixteenth Amendment never would have been passed. It was taxation via the Stamp Act, Townshend Acts, and more that caused the American Revolution. It is also notable that there were no provisions for a Federal Income Tax for more than 100 years after the Founding because the Founders literally revolted against any such.

As a side note, I would also point out that the power to tax is also the power to control, and there is no greater threat to free speech than the personal income tax.