This is one reason why we should get the government out of knowing everything about us to pay our taxes. We need to move to a blind tax that only sees transactions – Think: VAT or Sales Tax
But in a push to punish the rich, the Progressives pushed through law after law that allows the government to see everything we do with our money and now that they have been hacked the rest of the world can see it too.
If you’re in the middle or lower economic classes, the VAT is the most punishing option available, and the 1% skate by, paying even proportionately LESS of their income.
The tax code IS immense, and does need to be cut in size, eliminating exemptions, exclusions, and “breaks”, would reduce it by 99.5% in volume. It is actually the details of many of those exemptions that define far more “personal information”, and put it out there for hackers. (LIke Congressionally written and defined exemptions that could only apply to one constituent, er person, in the world.)
And YOU will get a failing grade at math if you continue that. There is a difference between “percentage of tax revenue” and “percentage of individual income paid.”The fact that rich people paying 10% produces more tax revenue than middle-class people paying 35% does not mean rich people should pay less than middle-class people. It means that rich people have a LOT more money, and that income inequality is so vast that all the poor people together don’t have the money of a relative handful of rich people.
If you earn $30 K a year and pay ten percent in taxes, and I earn $30 MILLION a year and pay ten percent in taxes (flat tax) you have 27 thousand left to survive on for the year, and I have 27 MILLION left to “survive” on, who is that tax hardest on??
Mephistopheles almost 9 years ago
This is one reason why we should get the government out of knowing everything about us to pay our taxes. We need to move to a blind tax that only sees transactions – Think: VAT or Sales Tax
But in a push to punish the rich, the Progressives pushed through law after law that allows the government to see everything we do with our money and now that they have been hacked the rest of the world can see it too.
We need to do away with the income tax.
Dtroutma almost 9 years ago
If you’re in the middle or lower economic classes, the VAT is the most punishing option available, and the 1% skate by, paying even proportionately LESS of their income.
The tax code IS immense, and does need to be cut in size, eliminating exemptions, exclusions, and “breaks”, would reduce it by 99.5% in volume. It is actually the details of many of those exemptions that define far more “personal information”, and put it out there for hackers. (LIke Congressionally written and defined exemptions that could only apply to one constituent, er person, in the world.)
Fuzzy Thinker Premium Member almost 9 years ago
Take out the deductions (put in by congress) and the rich will pay more. But, it won’t be easy.
Motivemagus almost 9 years ago
And YOU will get a failing grade at math if you continue that. There is a difference between “percentage of tax revenue” and “percentage of individual income paid.”The fact that rich people paying 10% produces more tax revenue than middle-class people paying 35% does not mean rich people should pay less than middle-class people. It means that rich people have a LOT more money, and that income inequality is so vast that all the poor people together don’t have the money of a relative handful of rich people.
Dtroutma almost 9 years ago
If you earn $30 K a year and pay ten percent in taxes, and I earn $30 MILLION a year and pay ten percent in taxes (flat tax) you have 27 thousand left to survive on for the year, and I have 27 MILLION left to “survive” on, who is that tax hardest on??