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While you might be talking about the exceptional cases where rich are paying a lower marginal rate than 1%-er W2 earners, for the basic tax brackets the more yo
by maerF0x0 17d ago
While you might be talking about the exceptional cases where rich are paying a lower marginal rate than 1%-er W2 earners, for the basic tax brackets the more you earn you exponentially pay more than those who earn less.
Fair tax is either Flat tax (We all pay 10% of our income) and user pays (You want infrastructure for your business? then pay for it).
- Obscurity4340 16d agoLook, Warren Buffet should not pay less tax than his secretary. That is corruption of the tax code. Lets start with that. Also the nonsense where ultrarich can live off ultra low interest credit that effectively allows them to pay no or little income tax
- maerF0x0 16d agoFully agree he should not pay less tax % than his secretary, however I also would contend he should not pay more either. that is if his secretary is paying 20% so should he. I do think he should pay more absolute tax than his secretary... 20% of billions is lots more than 20% of $100k . What I'm talking about is progressive tax rates where the % goes up the more you make. I do not think Warren buffet should pay 25% of billions just because his income has more zeros than his secretary's . To the extent that people might say "Yeah but he uses more roads than the rest of us!", IMO that should be covered by user pays to tie the cost to the user. Gas tax is one such way this can be done. Business taxes are a bit crude but also could work.