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A flat tax on... what? Income? What is income? Capital gains? Realised or unrealised capital gains? Also, what are "rich people"? Is it the "millionaires and bi

A flat tax on... what? Income? What is income? Capital gains? Realised or unrealised capital gains? Also, what are "rich people"? Is it the "millionaires and billionaires" Bernie Sanders used to talk about before he became a millionaire himself or only the "billionaires" he now speaks about? Not to single out Sanders the question is an important one since one man's "rich man" is another man's servant. To the homeless bum on the street you will be "rich", to you Sanders is "rich", to Sanders Musk is ¨rich". Who gets to pay? Flat taxes sound great in theory but they end up having a far larger impact on those for whom the tax directly cuts into their ability to pay for basic necessities. Will there be an minimum guaranteed spendable income limit below which the tax will not be taken?

harimau777 3y ago
I think that a good definition of "the rich" might be: People who make money based on what they own rather than on the labor that they perform.
- secondcoming 3y ago
  The problem with that is not all labour is the same. Should a weathly farmer be taxed less than a hairdresser? It’s a more physically demanding and dangerous job.
  - harimau777 3y ago
    Neither of them would meet that definition of "the rich" since they are both income gained through labor. Therefore, neither of them would have their taxes raised by a policy of "taxing the rich".
    - secondcoming 3y ago
      Right, but why do they both incur the same tax rate even though the labour required to do each job is vastly different?
Dylan16807 3y ago
the "millionaires and billionaires" Bernie Sanders used to talk about before he became a millionaire himself Eh, when the term "millionaire" was made, a million dollars was worth about 30x less. We can't keep focusing on the number 1000000 forever when we have constant inflation. A million dollars isn't even enough to let the average person retire and have a median income lifestyle.
- sokoloff 3y ago
  I think you meant to say that "a million dollars was worth about 30x more."
  - Dylan16807 3y ago
    Yes, oops. I think that sentence started out saying "since" and I didn't update it properly.

harimau777 3y ago

I think that a good definition of "the rich" might be: People who make money based on what they own rather than on the labor that they perform.

secondcoming 3y ago
The problem with that is not all labour is the same. Should a weathly farmer be taxed less than a hairdresser? It’s a more physically demanding and dangerous job.
- harimau777 3y ago
  Neither of them would meet that definition of "the rich" since they are both income gained through labor. Therefore, neither of them would have their taxes raised by a policy of "taxing the rich".
  - secondcoming 3y ago
    Right, but why do they both incur the same tax rate even though the labour required to do each job is vastly different?

Dylan16807 3y ago

the "millionaires and billionaires" Bernie Sanders used to talk about before he became a millionaire himself Eh, when the term "millionaire" was made, a million dollars was worth about 30x less. We can't keep focusing on the number 1000000 forever when we have constant inflation. A million dollars isn't even enough to let the average person retire and have a median income lifestyle.

sokoloff 3y ago
I think you meant to say that "a million dollars was worth about 30x more."
- Dylan16807 3y ago
  Yes, oops. I think that sentence started out saying "since" and I didn't update it properly.