The Department of Homeland Security dealing with more than 48,000 unaccompanied children crossing the border into Texas has created a real controversy.
Aside from the humanitarian issues, we must consider what is causing this issue. That centers on immigration reform and the idea of giving amnesty to children.
Quite frankly, if I was Mexican, I would have to say that this is a viable shot to secure their future.
So what can be done? The entire issue emerges from taxes. The income tax should be abolished and we should simply have a consumption tax period.
Because only American citizens and green-card holders pay income tax. Aliens even pay sales taxes. If we abolished the income tax that whoever is here then pays. The “rich” cannot take a lawyer to negotiate the sales tax on a car where that is done with income taxes.
Additionally, the aliens do jobs Americans do not want. In New Jersey, you are not allowed to pump your own gas.
Yet, gasoline is no more expensive here than in California. We have eliminated jobs at parking garages and gas stations that the youth use to do to earn money during their school days.
They use to be important for they were apprenticeships in a way teaching kids that they had to earn money etc, Now, the youth do not do those jobs and the immigrants do what American youth feel they are too good to do.
History repeats and there is always a massive deflationary implosion because government ends up consuming so much money it sucks the life-blood out of everything. The Founding Fathers were very smart and they forbid DIRECT TAXATION to preserve our liberty.
The difference between a Consumption Tax (indirect) and Income Tax (direct) is rather simple. The first government does not need to track you whereas the latter income tax you have an obligation as an economic slave and they own you and your labor. It is a matter of freedom.
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Livio S. Nespoli has been a broker, registered investment advisor, and financial publisher since 1985.