victor, two things need to get done.
1. the govt needs to stop being self serving - never gonna happen. so, let's be realistic and assume the status quo (something reagan didn't do, to his shame and our detriment).
2. since a flat tax will reduce the wealthiest tax contribution by $100s of billions, who is going to pick up the thousands and thousands per middle income family tax tab to make up the difference? are the homeless going to pick it up?
wrt the mortgage deduction, it only REALLY helped the real estate folks and those people who already owned their home pre deduction. why? b/c w/o that deduction, housing would cost much less on an absolute basis b/c folks wouldn't calculate in the deduction to find their max pain house purchase. therefore, they'd pay less. net, net, they'd actually spend within 1% or 2% in actual purchasing power either way they did it. few others TRULY benefitted.
6 of one, half a dozen of another.
a graduated tax rate is fair, imho. when i had little, i appreciated paying little. now that i have more, i'm not gonna try to make the little guy pick up my tab. when i'm super rich, i won't mind paying higher tax rates b/c i will realize that good fortune played a big role in my making it to the top. i work with folks who have 30 years experience in an industry and keep reminding me of it. why? they are insecure b/c i get so much done. they can't compete on anything other than being older. they also make much more than i right now. they aren't nearly as good and don't provide nearly the benefit to the company i do. they should feel lucky ;-)
you see, my belief system DOES NOT change with the size of my pay check - as tends to happen FAR too much. |
