So anyway...
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Originally Posted by GRH
Tracy seems concerned with the "progressive" nature of our taxation system. As if there is a problem that the top 10% shoulder a larger share of funding the government.
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I don't have a problem with that exactly. If there was a flat tax at 17%, someone who makes $100 million/yr would have a $17 million tax bill. If someone made $10000/yr then they would have a $1700 tax bill. The richer person still shoulders a much larger share of funding the government.
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Originally Posted by GRH
The wealthy were allowed to benefit disproportionately from the infrastructure that America provides (legal, education, structural, etc.), so it should be expected that they pay a higher share of the tax burden. How so? Well the link below goes into a bit more detail, but it gives the example of Bill Gates from Microsoft. How did he disproportionately benefit from America's infrastructure? For one, he was able to sell stock on regulated financial exchanges. He was able to patent his product and pursue litigation in cases of infringement. He was able to hire college educated students (who went to public universities, had student loans/grants, etc.). Do you think Bill Gates would have been able to innovate and come up with Microsoft if he had lived in some third world country without America's infrastructure?
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This has nothing to do with some 3rd world country. This is about how the rich vs poor
in America are taxed.
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Originally Posted by GRH
And even the most ardent supporters of a "flat tax" have admitted the need for some sort of subsidy/credit for the low income earningers-- because this IS a regressive tax. So in the end, it's not even a flat tax.
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LOL awesome. You are actually claiming that flat tax is not flat tax. You have violated perhaps the most fundamental axiom: the reflexive axiom and claimed that A is not A. If you're going to call flat tax regressive tax, then what to you call something that is truly by definition regressive tax? The classic trademark of liberals is to water down words with alternate meanings. You and your Kinetic Military Actions, Man Caused Disasters and Deferred Successes.
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Originally Posted by GRH
But just out of curiosity Tracy, I've always heard that the tax should be levied on essentially all purchases. Would you support levying the "flat tax" on purchases of stock and securities? Because if we're going to be fair, we've got to apply the tax to EVERYTHING that is purchased (including the trading vehicles of the wealthy).
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I'm no expert on economics, but that's referred to as "Fair Tax", and as you say another example of a flat tax system. There's many advantages to it, like allowing people to keep all their income, promoting savings, being able to tax even illegal aliens, and again, the elimination of the IRS.