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Politics : Formerly About Advanced Micro Devices

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To: Alighieri who wrote (635569)	11/10/2011 5:48:55 PM
From: Tenchusatsu	Read Replies (3) of 1583174

Al, > you should know that under cain's scheme "buffett" would go from 17% to something much closer to 0% than 17% taxes... Under a flat tax scheme, Buffett would be paying 9% on all his income. He would also be paying 9% more in all his living expenses. Which won't affect him as much, since he lives frugally, but it will affect the other "one percenters" who live extravagantly. You know, like those who fly in private jets and dine in $1,000 restaurants, etc. But the bottom line is this. You hate a flat tax. You see the rich getting richer and wonder why they shouldn't be paying more than they already do. Only problem is that if you really think about it, a sharp progressive tax curve is one of the reasons why the rich is indeed getting richer. And you'll figure this out once you realize that an income tax is NOT a wealth tax, but a tax on the accumulation of wealth. Let me know when you do. Tenchusatsu

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