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Originally Posted by Daseal
Firstdown, I'm running out now so no time to back up the numbers I have heard with statistics, so Ill try to remember to get into that later. My thing is if one household brings in 10 million dollars a year, and lose 40% of that, it's a huge chunk. If another household brings in 100,000 a year and lose 40% of that, they're crippled.
Firstdown, would you be okay if everyone paid (just pulled a number out, statisticians would have to come up with an accurate number for this) 20% of their income at the end of the year to the government? I think doing it on a base percentage is the best way to go about it. Although I still don't know if the very poor could handle something that large.
I guess I just have no sympathy for someone paying more taxes that has all the money/luxuries they need. The top 1% won't come tumbling down because of their taxes. I'm more concerned about the folks that lose their homes because they can't pay property tax, or that have to choose between putting food on the table and paying the government.
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I'm for anything better then what we have in place today. Either a flat tax or a consumer tax which I believe is around 22% and the lower income receives back tax credits. Neil Bortz (spelling) has a book out on the consumer tax which I have not read but have heard about. Your example of someone making $100,000 is not very good because they do not pay that much in taxes. I agree that yes the rich can afford to pay more (which they do) but that upper bracket starts with families with incomes around 350,000. While that is very well off its far from your example and they end up paying around $140,000 in taxes. So now they are bringing home 210,000 which just doe not seem right. Think they have to work almost 5 months just to pay their Federal Taxes and this does not even enclude state and other taxes. The main problem is Federal, State, and local goverment has become to big and way to waistful. We have plenty of money to meet the needs of the people we just need to cut out the waist in all three.