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Politics : View from the Center and Left
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To: Sun Tzu who wrote (209538)11/26/2012 2:15:09 PM
From: Metacomet  Read Replies (2) of 540869
 
So earning $250k in Manhattan is not the same as earning it in Dayton Ohio.

Nope...

Of course income isn't the sole arbiter of how well off one considers himself

It can be argued, by some, that it is worth the extra expense to have access to the NYC amenities

...at least to those who opt to live there instead of say Tulsa or Dayton

It would be impossible to tweak any tax code to compensate for these types of subjective choices

Nor should there be any attempt to do so

In my opinion income tax should be 10% of all income, from the first dollar to the last of "income"

The trick is to change the code to so that all income is recognized as just that

No special categories

Capital gains, dividends, interest, inheritance, gifts, lottery winnings, whatever..

And no deductions either

Anything that is income is taxed the same, at the same rate

Imagine how that would clean up our elections if they had to run on real issues instead of promising targeted tax treatment to competing constituencies
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