[HighSierra5]

The dirty little secret is that the “rich “ will be fine. Taking advantage of all the tax havens. Everyone else will pick up the slack on our back.

[Outlaw76]

Taxing the rich gets you nowhere because they are extremely adept at transferring income(taxable) to wealth(not taxable) and making the former appear to be non existent.

If I have a billion dollars it isn't taxable, only the money I make off of it is, so, I would be pretty careful to make sure I net zero at the end of the year to avoid having any of it confiscated. That is good wealth husbandry.

The folks who get screwed are those of us who don't have the kind of income that can be hidden and transferred to wealth.

A flat tax with no loopholes eliminates the ability to transfer income to wealth prior to taxation and disincentives hiding it.

[Elsie]

Politicians: Dang them ol' rich people!
They gots too much money.

I know - let's tax them!!

We'll tell the US workers that the tax load will be off of their backs and we'll get more votes!

 

CFO: Well boys; looks like the cost of materials and other stuff is going up.  And the pols are after more of OUR money, too!

I guess we'll just have to raise prices so we still take home the same amounts to our wives.

 

Members of the board: What'll we tell customers when they complain?

 

CEO: We'll just show them the books.

Show them the ADDED wages we now have to pay out for tax preparers and more accounting personel .

They'll understand.