Now, Alanm, in this post you ask about the flat tax, and in your next post you say "don't get you started on taxes"...
View attachment 418792 No, let's do discuss taxes since "tax unfairness" is what the weathiest people go to when discussing their "fair share" of taxes.
Here's
my opinion about a flat tax. If the majority of employers (primarily corporations) were paying their employees a "living wage", and there wasn't currently such a huge
wealth inequality in the US, a flat tax might work to some extent, but a flat tax now would be just another benefit for the rich. Certainly a 20% tax on someone making $22,000 vs someone making $1 million would not be fair, would it? You got a guy that doesn't even earn a living wage ($23,800 currently) and you're going to take $4,400 of his income away for taxes?
Currently, in the US, 42% of the country's wealth is held by just 1% of the population. Put that on a global scale, the world's 85
richest individuals own more wealth than the
bottom 3.5
Billion people on this planet. No, that isn't a typeo. That's why there are so many protests against oppressive regimes going on; the concentration of wealth in the hands of the few.
You hear all the time the wealthiest 1-2% complaining about paying more taxes than the poor, but, the numbers they are spouting out do not take into consideration the payroll tax, which is the primary tax of the poor. Besides, it has been proven many times that the poor & middle class workers are what stimulate the economies with their purchases. More purchases creates more manufacturing and other jobs, which increases the nation's GDP. Cut taxes on the wealthiest (trickle down), and the working class gets poorer, there's less taxable income, and less purchases as jobs disappear. Bill Clinton and George H Bush (not GW) proved that back in the 1990's if you recall.
How about considering a progressive type of tax system where there are
fewer deductions and
tax loopholes, so that rich man earning a $ million pays a 28% or 25% tax
BUT doesn't have near as many tax deductions. And the poorest, earning under $20,000 might have to pay 2-3% to federal taxes simply to be a contributor? The corporations could do the same. Did you know that approx.70% of corporations pay "zero" in income taxes?
And keep in mind, there are all kinds of taxes ... income, inheritance, estate, home ownership, payroll. We just need to bring back a fairer tax system and balance ... the US loses over $1.3 trillion a year to
untaxed incomes that should have been taxed.
That's just my opinion ...
View attachment 418798 Mac