TAXATION

Libertarians believe individuals and businesses should keep more of their own money.

Libertarians favor voluntary exchange and believe it is wrong to forcibly take other people’s property. We view taxes as the fuel for intrusive government, public-sector corruption, cronyism, and unnecessary wars. In addition, from an economic perspective, taxes distort economic activity and incentives. As a result, Libertarians believe that taxation should be voluntary and, practically speaking, we advocate minimizing or eliminating taxes whenever possible to allow people to keep more of their own money.

 

We favor making it as difficult as possible for government to take people’s money. Therefore, we oppose all efforts to repeal or undermine existing laws requiring greater than a simple majority vote to raise taxes.

 

We favor repealing all income taxes. Libertarians believe taking the fruits of a person’s labor without permission is unjust. In addition, taxing income has negative economic effects on work and savings.

We favor reducing or eliminating taxes and fees that burden businesses. Excessive taxation, along with excessive regulation, has negative economic effects on investment and job creation -- these effects are disproportionately burdensome on small-businesses.

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