Many people advocate a flat tax which seems fair on the face of it, but ignores a crucial fact: the poorer you are, the greater the percentage of your income that goes to survival needs like food, shelter, clothing, transportation, utilities, etc, and the less income you have available for play, investment, savings, or taxes.
This is why there is an earned income tax credit--some people make so little that it doesn't cover the essentials.
I don't think people should be penalized for being successful. If your income rises, your take home pay should rise too. But that can still happen with a system based on ability to pay.
For the wealthiest, changes in tax rate don't crimp their standard of living but rather how many generations of their descendants can survive without working or even making investment decisions for themselves.
I'm not sure why anyone should be outraged that the children of the children of the children of Paris Hilton might have to get a job.
2007-08-14
07:59:45
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22 answers
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asked by
yurbud
3