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Originally Posted by mwillman
90% of all wealth is controlled by 3% of the people.
If the 3% are paying 40% of all taxes then 60% of all taxes is coming out of 10% of the wealth.
And that is with a progressive tax system.
If you go to a flat tax then the 3% are only paying 15% of the taxes which means that 85% of all taxes comes out of 10% of the wealth.
In both cases the poor and middle class are paying the lions share of taxes while making much less money.
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The poor and middle class pay the majority of the tax burden because they're the majority of the population, and so as a consequence the tax dollars coming from that population segment will exceed those coming from the smaller population segments. A flat tax would actually DECREASE the tax burden of the poor and middle classes by dropping their income tax rate (while raising that paid by the poor, whose pay is untaxed as is despite their collection of social services) to around 10-15% (as opposed to the 20%+ currently paid by people making over $30k). You seem to think I propose a flat tax on our current budget, which is already unaffordable given ANY tax system BEFORE Obama's proposed nanny-state additions (which I suspect he knows are not possible but harps anyway to get votes). Flat tax, small government, and legal equality breed economic prosperity. We tried it your way, it sucks, so how about we try it my way now?
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Your system does not create equality it increases the tax burden for the majority of people while decreasing the tax burden of the rich. The American dream should not be to steal your way into the 3% where you never have to worry again. While the masses pay the costs for all the resources your money uses.
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Did you just willfully ignore my entire post? Flat taxation does NOT increase the tax rate on those who already pay taxes, it LOWERS the rate for EVERYBODY but admittedly requires those whose incomes are presently NOT taxed to pay their share. The rich would see a tax reduction, but so would every other American tax-payer, many of them middle class homeowners who would seriously notice the 5-15% of their incomes left IN THEIR POCKETS each year. What do you suppose they'll do with that extra cash? Burn it, or buy new things and re-invest in an economy bankrupted by the lethargy of entitlement spending and central regulation? Your plan FAILED, it's time for a new plan that reflects REALITY and no the fantasy world in which contemporary fiscal liberals live where the government can pay for everything and nobody has to work hard.
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Blah blah blah
I have heard the flat tax arguments before and they still don't impress me.
A flat tax is just another way for those with money to keep more of it.
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Yeah, what's wrong with people keeping their money again? Your plan is aimed at wealth re-distribution when all it does is help make the rich richer. By using an overly complex tax-code that is easily exploitable by the rich (and complex law is the only way to form a progessive tax structure) you create a society in which only the upper middle-class who cannot afford highly paid lawyers and accountants bear the full tax burden. The poor and middle classes then spend what is left of their income on goods and services from companies owned by the very class of rich people who your plan failed to tax.
The flat tax puts money back into the hands of EVERYBODY (except those on the government dole, who should rightfully pay taxes), especially the over-taxed middle class (I'm one of them, nearly 30% of my income goes to Uncle Sam each year, and I make just under six figures, meanwhile Trump gets to hide his money using YOUR system of deductions and write-offs, thus leaving ME and the rest of the working men in this country (yeah, WORKING men, not the people collecting a government check for doing nothing) to foot the bill for your out of control social spending)) who essentially decide whether the economy lives or dies. A low rate flat tax with slashed government expenditures is the only way to run an effective treasury. Notice how individuals who deficit spend usually end up in financial trouble? Same thing applies to governments.