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Status:
"Let this year be over..."
(set 22 days ago)
Location: Where my bills arrive
19,219 posts, read 17,091,524 times
Reputation: 15538
The problem is not so much the tax rate but the ability of those with very high income to reduce/eliminate their tax obligation leaving the modest wage earner paying more than the person making a million dollars.
- All adults with incomes above $500,000 should be the higher of their regular tax liability, after factoring in loopholes, OR a flat minimum of 5%. So someone earning $1 million would have to pay at least $50,000.
- ALL adults with incomes below $500,000 should pay a minimum of 1% (and that includes the half who don't pay a cent right now). That would include those whose income is solely government assistance, provided with Other People's Money. So if the value of their food stamps, Medicaid, and subsidized housing is the equivalent of $30,000 a year, they owe $300 back.
The problem is not so much the tax rate but the ability of those with very high income to reduce/eliminate their tax obligation leaving the modest wage earner paying more than the person making a million dollars.
Yes and I would add the ability for high net worth people to avoid taxes and become super wealthy. Sorry but we do need to tax the wealthy more heavily to pay for all the government spending.
- All adults with incomes above $500,000 should be the higher of their regular tax liability, after factoring in loopholes, OR a flat minimum of 5%. So someone earning $1 million would have to pay at least $50,000.
- ALL adults with incomes below $500,000 should pay a minimum of 1% (and that includes the half who don't pay a cent right now). That would include those whose income is solely government assistance, provided with Other People's Money. So if the value of their food stamps, Medicaid, and subsidized housing is the equivalent of $30,000 a year, they owe $300 back.
Yes and I would add the ability for high net worth people to avoid taxes and become super wealthy. Sorry but we do need to tax the wealthy more heavily to pay for all the government spending.
Or maybe we should cut government spending?
Isn't that the main problem, the fact that our government has put America into trillions of dollars of debt by wasting our tax dollars.
Raising taxes for a government that continually wastes trillions of dollars is not a solution for anything.
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