[palmer]

What is wrong today is that ONLY HALF the people escape the federal income tax when 98% should rightly escape it.

That means you would also support lowering the income (millionaire's) tax to 5 or 10%?

[muawiyah]

That means I think the federal income tax has FAILED and should be ABOLISHED.

It's pretty obvious that when you have a system where everybody thinks Warren Buffett is subject to a 38% tax rate and he's only paying 17% that there is something very real wrong with the system!

BTW, half his income isn't even subject to income tax and he pays nothing ~ some attribute that to charity ~ but for all anyone knows it's just simple evasion. We need more data. What that does, however, is lower his effective tax rate to LESS THAN 9%.

Recall, Warren is among the top 400 earners in this country. The others are not making any noise ~ do they, in fact, pay taxes at the highest rates? Or, do they totally evade the tax system and leave it to the guys who make a few hundred thou to a couple of million to pay all the taxes?

When you have a tax system designed from its very foundations to TAX ONLY THE WEALTHIEST and it fails to do that, then you get rid of it and come up with something else.

I'm afraid that the arguments for a Progressive Income Tax System are just so much BS designed to fool the public into thinking that everybody at the top is paying high income tax rates.

[moose-matson]

That means you would also support lowering the income (millionaire's) tax to 5 or 10%?

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Exactly how much do you think is the right amount of money for the government to take from a "millionaire"?

And, what exactly is a millionaire in your view? Is it calculated by net worth or by income? Please be detailed and specific.