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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 443.45+1.4%4:00 PM EST
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To: KyrosL who wrote (9682)9/26/2006 11:34:13 AM
From: energyplay  Read Replies (1) of 219592
 
Consumption taxes tend to be HIGHLY regressive. My plan is to let Sergey Brin and Larry Page (Google founders) pay taxes instead of me ;-)

Last year they each paid about 1.2 Billion in Federal income tax and about 200 million in California state taxes.

California, which has a wide spread in income distribution, and lots of seriously rich people, regressive taxes don't make much sense.

It would be hard to maintain infrastructure and a high level of government service by taxing which depends heavily on poor people.
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