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> It's also hard to say that they aren't paying their "fair share" when they provide more than half of the government's tax revenue This doesn't really hold wa
by tmnvix 10y ago
> It's also hard to say that they aren't paying their "fair share" when they provide more than half of the government's tax revenue
This doesn't really hold water.
Consider a situation where 99% of income goes to 1% of the population. Would it be fair for them to provide just 1% of the total tax revenue? Or should they provide 99%? Or is 'fair' somewhere in-between?
In other words, if they get more than half of all income, is it not fair that they pay more than half of all income tax?
Personally, I think taxing income is the wrong approach anyway. In my opinion we should be taxing wealth (LVT, that sort of thing). This is becoming more important due to capitalism's tendency to devalue 'earned income' (e.g. labour) in favour of 'unearned income' (e.g. rent). We are going to face a situation sometime in the not-too-distant future where the vast majority of people will have no means of contributing anything meaningful in the way of income tax. We are probably already there.