In my opinion, our nation’s future is vested in each successive generation, our children. Income taxes are bad for families since neither the United States nor most state income tax codes reflect the importance of families to the future success of our nation and our children. To put it another way, the most important business of our nation is raising our children, not business or corporate wealth. The home is the factory of the family, the family vehicles are the distribution fleet of the family, food is the fuel of the family, and washers, dryers, and refrigerators are the equipment needed to raise the next generation of United States citizens.
If my hypothesis is correct, the United States and state income tax codes should reflect the importance of the business of raising the next generation. The expenses accrued while raising the next generation should be treated in the same way that income tax codes treat business and corporate expenses. Family expenses are not deductible directly from gross income and structures and equipment used by families are not depreciable. Consequently, the United States and state tax codes are bad for families in comparison to the benefits provided by business and corporate income tax codes. The only way to correct this inequity in income tax codes would be to extend all tax benefits extended to businesses and corporations to family income taxes.
United States and state income tax codes are also great for criminals. Criminals take advantage of these tax codes to minimize their taxes on enterprises, including shell corporations, used to hide and launder income derived from criminal activities. All of the structures, equipment, salaries and benefits for criminal and legitimate employees, associated with a criminal entity can be deducted or depreciated under the business and corporate income tax codes. Obviously, most of the nefarious income derived from criminal activities is never taxed under any current tax code. Only a consumption tax would tax any significant amount of currently untaxed criminal income. Taxes would be collected when criminals purchase most of the luxury items they desire as a result of their criminal enterprises. The income tax code benefits criminals derive from their enterprises continue until the true nature of their enterprises is discovered by law enforcement and their front and shell businesses are closed.
Economists, politicians, and pundits have proposed numerous alternatives or replacements for the United States and state income tax codes. One potential solution to the unfair income tax code treatment of families raising future generations, is replacement of income taxes with consumption taxes.
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