The theory of the IRS is rather repugnant to me because the assumption is made that I, the government, owns 100% of your income and I permit you to keep 5%, 10% or 20%. You're vulnerable, you've sold out. The government can take 80% if they want, which they did at one time.
About this quote
- What does it mean?
- Paul calls the IRS theory repugnant, claiming the government assumes ownership of all income and permits only a small fraction to be kept.
- In plain terms
- The IRS treats income as government-owned, letting people keep only a tiny portion.
- What can you take from it?
- Recognize the perceived overreach of tax authority.
Where it applies
Putting it to work
Questions to consider
- How does taxation differ from ownership?
- What reforms could address this perception?
Another view
Taxes are a legal obligation, not ownership of income.
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