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Taxes cap out in a progressive tax system and they provide many loop holes that only high bracket earners can qualify for.
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2. Tax-code transparency is completely separate from tax-code progressivity 3. (and this actually underscores point one) America functionally has a flat tax, even skewing towards regressivity, when you calculate all the various taxes we have to pay. And seriously weren't you complaining two whole days ago about spoiled girls in SUVs or whatever? So your solution is to make it even easier for Paris Hilton and the cast of MTV's Laguna Beach to pile up money while contributing nothing to the economy? Quote:
The idea that people at the bottom of the ladder should have the chance to improve their lot in our society do so without being crippled by a disproportionately burdensome tax bill also strikes me as pretty darn fair. The idea that the wealthy should contribute to the public good rather than indulging their bottomless greed by accruing ever greater shares of our society's riches, ultimately allowing them to wield massively disproportionate and corrupting influence over our society, strikes me as extremely gosh-darn fair. Quote:
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So the fact that the countries using these flat taxes are getting more revenue and growth than they did with a progressive tax scale means what then? Please tell me how that example doesn't disprove that flat taxes are a bad idea? They are working, the concept is in practice and working. It is being used in NJ, has been sice the 50's. It is working there.
I agree that people should pay what they can to contribute. All told I pay around 30% of my income to taxes, I own no property so I'm not paying property taxes yet, but those will add a couple more percentage points. With the flat taxes, the high end of the spectrum has a 19% tax, that sounds pretty good to me. Quote:
All I'm saying is that the flat tax system is in use is working and working well, if the numbers reflected in those countries would be at all similar in the US then we'd be able to take care of the Social Security issues and reduce the defecit. Consumers now are more aware of buying trends, how the stock market is affected by tax and interest rates, and allow that to affect their buying decisions. People are likely to buy more and invest more when things are good. Infusing that much more cash into the system does work, tax breaks have raised the stock market to all time highs. Trickle down failed massively in the Depression, there is no denying that fact. I think today it works, my previous statement about the stock market and trends in buying due to tax breaks, people are more aware and their spending reflects that. |
I heard about a "fast food" hospital, where you go in, get charged a small sum of money for the ER stay, and get out of the hospital within 20-40 minutes.
Anyone have any specifics, or is this just a rumor with no factual basis? |
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Not to mention I real indicator of the health of our economy is property. The vast majority of investments made by the lower income bracket are in realistate and somewhat in cars. Last time I heard the realistate market, more specifically mortgages, were heading for disaster. That is not a good sign for things to come; at least not for the lower income brackets. |
trickle down only works if the rich spend money, but fact is they dont. When you are making hundreds of thousands a day, you litterally cant spend the money fast enough.
Now I dont understand why this is an issue, why if you have 50 billion dollars you dont just give a few to those in need, but fact is they have it and they dont. In fact they use this money to bribe their way out of taxes. The best solution is not a flat % but a percent that increases as you go up the economic bracket. The poor pay 1%, the extremely wealthy pay 75%. Oh and I did the math. The super rich can actually live their life style on only about 2% of what they have. |
Aerozord, I could live, without having to work for the rest of my life, on three million dollars.
Comfortably. Very comfortably. |
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So yes we have a progressive tax but all the progressiveness is packed into the bottom 30% or so of the tax bracket. The rest of it is either flat or even slightly regressive due to tax loopholes. We don't need a flat tax, we need a non-biased tax system that is truly progressive over the entire income range. |
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In addition to which neither article makes any particular effort to address the impact of such taxation on wealth concentration or median income And further in addition to which neither article makes anything like a prediction of what would be the expected effects of a flat tax on an actual developed economy. Quote:
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