Well, they're back to talking about the FLAT TAX idea. It's nothing new, it's been around for several decades, maybe longer. The idea is that everybody is taxed at the same rate, rich and poor. Sounds fair, right? Like heck it is. If it was fair, would you really hear the rich pushing the idea so hard? The same percentage of your paycheck for everybody isn't so fine for the poor, or even the middle class. It's a stinker of the first magnitude.
Let's use 10% tax for the sake of argument. Suppose you make $25,000 a year. Your tax bill would be $2500. That's a pretty good hit. You may have to put off replacing that old clunker you're driving. Now suppose you make $250,000. You may have to cancel plans for that skiing trip to the Alps, but you'll still have $225,000 to live on. Now what if you make $2,500,000 a year. Your tax bill would be $250,000. What would you have to give up? Not much, not at two and a half million a year.
Ya see? Ya understand why it's not really a fair system of taxation? Oh for the rich, it's a great solution. They get to save tons of money that they could then spend on, on what? Job creation? Are you kidding? The only jobs that would create is more pool-boys and lawn care workers. And with all the money rich corporations and wealthy people spend on politicians, you have to know there'd be some big loopholes so they could keep ever more of their money.
Simplifying the tax code is definitely a must-do operation. There are far too many loopholes that allow far too many folks to not have to pay their fair share. And when I say fair share, I mean that Americans should pay according to their ability to pay. To do otherwise only broadens the gulf between the rich and the poor. Look, we need people to be rich. The more the merrier. What we don't need is more poor.
Let's use 10% tax for the sake of argument. Suppose you make $25,000 a year. Your tax bill would be $2500. That's a pretty good hit. You may have to put off replacing that old clunker you're driving. Now suppose you make $250,000. You may have to cancel plans for that skiing trip to the Alps, but you'll still have $225,000 to live on. Now what if you make $2,500,000 a year. Your tax bill would be $250,000. What would you have to give up? Not much, not at two and a half million a year.
Ya see? Ya understand why it's not really a fair system of taxation? Oh for the rich, it's a great solution. They get to save tons of money that they could then spend on, on what? Job creation? Are you kidding? The only jobs that would create is more pool-boys and lawn care workers. And with all the money rich corporations and wealthy people spend on politicians, you have to know there'd be some big loopholes so they could keep ever more of their money.
Simplifying the tax code is definitely a must-do operation. There are far too many loopholes that allow far too many folks to not have to pay their fair share. And when I say fair share, I mean that Americans should pay according to their ability to pay. To do otherwise only broadens the gulf between the rich and the poor. Look, we need people to be rich. The more the merrier. What we don't need is more poor.
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