Monday, April 16, 2012 11:21:48 AM
Using his basic premise....400 people at $100 million a piece. Currently pay 18%, but now will pay 30%. That will net an extra....wait for it..... 5 billion in taxes.
You could take all of their money in taxes and it wouldnt make a dent in the budget. It wouldnt matter one bit.
The problem is never about taxes....its about payments....Entitlement programs will be the death of us.
Monday, April 16, 2012 7:03:25 AM
The more wealthy you are, the more influence and impact you have on society and thus have more responsibilities too. Why would they get to eat the cake and keep it at the same time? The more you make, the more you have to give.
Sunday, April 15, 2012 6:17:13 PM
Zuriel: The flat-tax model seems like it makes sense, since it is so simple. The problem with it is that those who are at the lowest income levels couldn't afford a tax rate that high. Too great a percentage of their total income goes to basic essentials like food, shelter and clothing. What`s more, the current model is constructed to incent donations. I`ll be the first to admit that one of the reasons I donate at all is because I know that it lowers my effective tax rate.