A great number of rich people do not work, and therfore pay no income taxes?
Posted: 10-09-2008 | Author: admin | Category: Other - Politics & Government6 Responses to “A great number of rich people do not work, and therfore pay no income taxes?”
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They do pay capital gains tax however
I am all for a national sales tax instead of income tax.
However, those rich people who “do not work” still have income. And in addition to that income,they have capital gains, etc that they pay.
I’m not willing to pay tax rates of 35% and state income tax as well.
“rich people do not work, and therfore pay no income taxes.?”
Thr rich work, that is how they got rich, they don’t pay taxes because they have tax shelters .
What we need is a flat tax, you earn this amount, you pay that. no tax shelters no tax deductions just a flat tax.
I feel a straight tax for all would be fair and id love to see the income tax thing change.
A better option is indeed a pure consumption tax (sales tax), however with some tweaks. Make some of the essentials exempt from the tax (food and medicine primarily). That way the truly poor still get some relief.
However if the poor still want to go out and buy that new plasma TV or blow money on nonessentials, they should pay the national sales tax on it just like everyone else.