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No Need For Flat Taxes or Excise Taxes, John Taylor Preferred Duties and Imposts

Mandeville, LA - Exclusive Transcript - The preferable way to raise revenues, and this makes sure that it is totally equally apportioned among all the people of the several states, is to tax only, to do duties and imposts, tariffs as they’re known. As long as they are uniform and as long as they are across the board -- and it’s not a protective tax either. It’s cost of doing business in this country. If you want to do business here, here’s your five percent duty or five percent impost. This way, if there is taxation, it is transparent, it is on the importation, it is not on the manufacture, it is not an excise, which is an indirect tax. Then doing business and having your precious general government is not a penalty. In other words, it just discharges the few duties that it has to. If you have to have money for a war, you raise bonds. You do it the old fashioned way. You sell bonds and sell debt. “We’ll pay you back in the future if you’ll help us build a battleship today.”
September 2012
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