WhyNot?

interest-free loans as taxes

Category: Taxes
Responses: 3 (2 in support, 0 neutral, 1 in opposition)
Number of views: 1031
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How about, in addition to taxes, the government collecting interest-free loans (especially from the rich)? Another idea is that the government should find out what product or service the rich would like (for the regular price) that the government can get for less and pay up that way. One example is that there is a book on how successful people solve problems that's out-of-print and currently worth 4 times the list price. If the government would be willing to talk the publisher into reprinting the book in mass quantity, they can get it at a large discount! (By the way the book is titled "Breakthrough Thinking" and it's by Nadler & Hibino, SECOND edition.)

Yaakov Simon, May 06 2004

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Actually, the government does collect interest-free loans from everyone who has income taxes withheld. And in general, the more you pay in taxes, the larger the loan. And anyone who has a refund due is simply extending the loan.

There is a simpler scheme to collect from the rich on what they buy. It is called a luxury tax. In 2002, for example, it was 3% for a car valued at more than 40,000. Since some people value things by how much they pay for them, I think the luxury tax adds value by letting people pay more for things they consider expensive items.

sevans, Aug 30 2004

This is unnecessarily complicated. Just take money as it is and pay for things that way.

dumllama, Jun 25 2005