Posted on 03/25/2015 5:36:57 AM PDT by IBD editorial writer
Tax Reform: The good news is Americans are fed up with the current code. The bad news is most think the biggest problem is that corporations and the rich don't pay enough.
(Excerpt) Read more at news.investors.com ...
The rich pay plenty. In addition to the actual taxes they pay, other fees are collected by those who find tax shelters for them. Perhaps those that are complaining are the data entry and filing people that work for those types of firms. Wouldn’t that be ironic?
Reason #867 why I believe the Fake Indian is gonna be your next POTUS.
It boggles the mind how people who pay nothing think others should pay more. There has to be a way to explain to them how over-taxation of producers is BAD for the economy.
Depending on family size, the following families do pay SSN and Med, but pay zero to very little income tax. If there are more dependents, they tend to receive back from the Fed more than they pay in.
The following figures come directly from the Social Security Administration…
-39 percent of American workers make less than $20,000 a year.
-52 percent of American workers make less than $30,000 a year.
-63 percent of American workers make less than $40,000 a year.
-72 percent of American workers make less than $50,000 a year.
If you dive into the tax code you find so many 1-company exemptions. For example the NY Times get special exemptions.
The tax code is skewed against working people with the marriage penalty, etc, and work with a w-2 form.
That which we tax, we discourage.
That which we subsidize, we encourage.
This country discourages productivity and hard work, because it is not rewarded, it is taxed.\
On the other hand, sloth is subsidized. That’s why we have so much of it.
Four of the many problems with the current tax system:
The government takes entirely too much from the economy to support bloated bureaucracies and creeping Nanny-Statism
About half the population have “No skin in the game”. (remember Barack Obama’s lecture about that?).
The tax system has been perverted into another wealth redistribution scheme through the EITC and other means.
The tax system has been “weaponized” and is used as a tool to stifle political dissent and punish critics.
Not having a flat tax is one of the ways spending gets out of control.
Want a new gov’t program? Sure, as long as I’m not the one paying!
If everyone had to pay a slice (flat tax) we’d have less spending.
There is a reason that envy is a sin.
Because the basic concept of “income” taxes is immoral, because it is slavery to the government.
If the definition of slavery is income taxed at a 100% rate, then any lesser percentage is merely a matter of degree.
Quite right. However, until we on the right set forth a program for dealing with crony capitalism and abuse of fiduciary positions in finance and corporate management (and non-profit management and government), that case is hard to make to the general populace, since too many of the rich in the public eye are not producers but parasites. (No need to warn "Winter is coming!" The (Kondratieff) winter is already here.)
the top 20% of all taxpayers, pay for everything.
the rest are free loading
do you think that 20% are sick and tired of paying for everyone else?
The tax code is what gave Madoff his idea.
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