>Z, believe it or not, we already have a progressive tax system.
In theory, yes. In practice, no, We certainly used to, but it's been really 30+ years since that's been the case.
>That's exactly the reason why they're so vulnerable to fluctuations in the economy.
As opposed to a truly flat tax?
>I don't know how much money you're making right now, but when your marginal income increases get taxed at a 50% rate (e.g. 39% federal, 11% state), even you will have to ask yourself where that money is going.
I'd deal with it if it meant good reliable health care for everyone, Social Security benefits ensuring the elderly don't end up on the streets (which they did in alarming numbers prior to its existence), and a return to having the best infrastructure in the world. At the moment, only #2 is the case, though we've made strides on #1. Today's Republican Party (and frankly, a significant part of it for the last century), would rather we not have those things.
>But don't take my word for it. Ask some of your friends making more than $250K/year.
I have very few, if any, good friends, that make that kind of money. And most of the people I know who do are entitled assholes.
>I guarantee you that most of them are taking advantage of every tax break imaginable, such as home mortgage, 401k, IRA, etc. Too bad you want to take most of those tax breaks away from them.
Some tax breaks are good and some aren't. But the fact that someone like Mitt Romney can pay an effective tax rate of 15% is not only morally wrong, it's economically detrimental to this country.
-Z |
