Let CEO taxes be relative to “average worker” salaries- 500 times as much, and eliminate deductions from both.
Average per-capita income in the US is about $40,000… I’d say if you make five times that you are definitely Upper Upper Middle Class…Taxes on the upper income “earners” in the United States are at an historical low. Taxes on corporations are laughably low. How anyone could say that US taxes are exorbitantly high is beyond me. We have among the lowest taxes, personal and corporate, in the industrialized world.
A national sales tax, or value added tax as they call it in Europe, sounds interesting. But the presidential candidatein the past who floated the idea ( sigh…okay, Mike Huckabee ) kept seeing a need to nudge the sales tax percentage higher and higher to make it workable in hisestimation.Maybe the concept is workable here in the U.S. We just needa more serious candidate – and, one with better tax/economicadvisors – to make the thing float.
John Deering and John Newcombe