re: Why not a zero tax on income from wages and a HIGHER cap gains, corporate and interhitance tax?
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I'd support that idea, but the politicians wouldn't. This would probably make tax revenues a lot more volatile, which would make even the anti-tax legislators nervous.
In the bad years you just kill a few dozen really rich people for the inheritance tax.
Seriously, the current system, worked out over generations, isn't all bad. But, at this point in time, with wealth disparity increasing, and huge deficits, it's simply crazy to give huge tax breaks to the very rich.
The net effect is that the middle, lower middle and lower class are carrying more of the total tax burden. At the same time that companies are earning record profits, and the most needy are trying to deal with reduced or non-existent benefits, huge and rising housing costs, and rising transportation costs.
It's unconscionable. |
