When children say, “That’s not fair!”, it means, “Someone is getting something good that I’m not getting!” Somewhere along the road to maturity, we learn better. Sadly, not everyone travels the road to maturity.
Filed under Bernie Sanders, Taxes, Ted Cruz
Here’s the problem with that 90% tax on the wealthy.
There are a whole bunch of people I’d LOVE to tax out of existence: Michael Moore, Beyonce, those two tools who played the White House Saturday night, Michael Jordan, Oprah, Matt & Ben, and on and on.
But when we try to take 90% of Matt Damon’s income, we find it’s all going into his corporation. So do we initiate a 90% corporate tax? Obviously not, and if we did Matt’s income would then be going into, I dunno, a trust, some phony foundation, whatever.
The only way I can see legitimately having wealthy people pay way more in taxes is a national sales tax. The more you buy, the more in taxes. A million-dollar yacht would have a much larger tax liability than a T-shirt.
But is it fair to the poor? (a) who cares? and (b) nothing about being poor is fair, it’s the wrong metric by which to evaluate the success or failure of that lifestyle.
Don’t want to pay the tax, then don’t buy the flat-screen. A by-product of this system is no more hidden taxes; everybody, with every single purchase, would instantly see how much the DC Moocherama is grabbing.
VAT in the UK is 20%!!!!
If the IRS is dissolved and replaced what about all those other taxes… state, local, permits, taxes built into services and goods, etc? Would those go away or do we wind up with all that crap + some huge VAT%?
And Bernie…. for your purposes, how much $ is considered “wealthy”?
Unfortunately, that is what’s going to happen as long as there’s nothing hard and certain preventing it. And that’s impossible to prevent. I think we is just screwed.
That’s why Ted Cruz’s idea is the best. Low flat tax. The same rate for everyone. Simplify the form (a la Steve Forbes). The IRS becomes a small clerical office in Omaha… or disappears altogether.
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And the best part? Everyone becomes a stakeholder, instead of only the 46% who pay taxes now.
Yes. Because a small percent of a small amount is a small amount.
And STOP using business owners as unpaid tax collectors!
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