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Politics : Formerly About Advanced Micro Devices
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To: Tenchusatsu who wrote (708110)4/10/2013 11:58:19 AM
From: combjelly2 Recommendations  Read Replies (4) of 1573824
 
That is exactly what the sainted Reagan did. Sure, not all In one fell swoop, but taxing capital gains at a much lower rate than income puts in place a system that those who depend on capital gains, the wealthy, were going to pay a lower percentage than those who don't. That is just inevitable. As a result, we have wealth concentrated upwards, which hurts the economy in so many ways by decimating the middle class.

Flat taxes only make it worse by eliminating deductions which mainly benefit the middle class. Likewise, cutting income and corporate taxes in favor of sales taxes is similar because the poor and the middle class spends a larger percentage of their incomes on taxable items than the wealthy.

Unless, of course, you believe in unicorns. ..
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