Friday, June 03, 2016

June 3rd: Tax Freedom Day!

Today is, according to the Adam Smith Institute, Tax Freedom Day, on which the average British citizen stops working for the government and starts working for themselves.

While I don't subscribe to the "Taxation is Theft" argument, I do agree that governments should never take money from their citizens in taxes without a good reason or take more than they need to, and tax rates should always be low enough to reward hard work and ability and give people incentives for industry and for improving their skills.

Keeping a record of how many days of the year the average citizen has to work to pay off his or her taxes and celebrating when that day is reached as "tax freedom day" strikes me as a good way to make the point.

An Adam Smith Institute article on the subject can be read here.

There is also a good piece at CAPX called "What tax freedom day really means."

6 comments:

Jim said...

How nice of you to mention the Adam Smith Institute. Was that a deliberate invitation, "oh go on Jim, I know you want an excuse to"


But yes, that is the reason the Ideas of Flexcit have now broken the walls of the bubble, and have a press opening. Thanks very much to Roland Smith (AKA White Wednesday) of TLA and ASI, here

as Richard points out how it pierced those bubble walls here and Roland himself comments here

Too good an opportunity to waste that one, thanks Chris.

Jim said...

On the tax thing, I would not fully subscribe to the "taxation is theft" ideal either, but as you are aware, I don't like the idea of the system as it stands, i.e. "this is what we are going to do, and this is how YOU are going to pay for it", I think there should be more direct democracy and engagement

so will make no apology for once again quoting demand 5 of the Harrogate agenda

5. No taxation or spending without consent:
No tax, charge or levy shall be imposed, nor any public spending authorised, nor any sum borrowed by any national or local government except with the express approval the majority of the people, renewed annually on presentation of a budget which shall first have been approved by their respective legislatures.

Jim said...

Kind of moves the idea into a new realm really,

rather than "this is what we ARE going to do, and this how YOU WILL pay for it"

its more

"this is what we would like to do, and this is how much it would cost and this how we suggest you pay for it, do you accept our business case?"

Chris Whiteside said...

Ambrose Evans-Pritchard came close to endorsing Flexcit or something very like it in the Telegraph at

http://www.telegraph.co.uk/business/2016/06/01/leave-camp-must-accept-that-norway-model-is-the-only-safe-way-to/

Jim said...

Yeah, its Rolands piece, which has actually lifted the well known editorial block on the word Flexcit (we know it was there do to the Booker/North thing)

here is a good one for "lovely thought of the day"

Chris Whiteside said...

I certainly would not rule out the possibility that something like the word picture painted by "The Wicket Gate" could happen.