2007-11-24 06:21:32 · 6 answers · asked by airforcewolf 4 in Business & Finance ➔ Taxes ➔ United States
No. They work for their money just like everyone else. However, I do think that some of the tax shelters should be eliminated or decreased.
The other thing I like is an across the board that. Everybody pays the same percentage, but there are no deductions allowed. So, let's say the rate is 10%. A person making $10000 would pay $1000 and a person making $1,000,000 would pay $100,000.
2007-11-24 06:26:28 · answer #1 · answered by kny390 6 · 1⤊ 2⤋
Yes, I do. And I'm paying pretty high marginal rates right now. I have no problem with it as I can afford it.
A flat tax would have to be levied at 27% to raise the same revenue as the current graduated tax rate does. That would be a massive tax break for the wealthy who are currently levied at a 35% marginal rate. The net rate of many wealthy taxpayers is well above 27% now so they'd get a massive break with a flat tax at that rate.
If you give one group a break, you have to transfer the burden to others. That leaves the working poor and middle class to take up the slack. The working poor don't pay any income tax in most cases and actually receive refunds due to the EIC and other refundable credits. They'd be devestated by a 27% tax levy along with the loss of the EIC. And most middle class taxpayers would see their tax bills rise by up to 50% or more.
Anyone who thinks a 27% tax rate would be a good idea should run the numbers on their own return and see what it would cost them. If you're like nearly 80% of all taxpayers a flat tax will cost you much more than the current system does. And if it costs you less, then congrats are in order -- you're rich so stop complaining. I'll trade paychecks and tax bills with you ANY day!
2007-11-24 15:59:33 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋
All tax systems (except SS payroll tax, for some strange reason) are designed to take more from those with higher income or assets. This includes income taxes, sales tax, property tax, estate tax, etc.
Some say this is because they can afford it, which is true, but the real underlying reason is that "they" don't deserve that much bigger piece of the pie, just because they were smart enough or lucky enough to get their hands on it.
Everytime you buy a new computer, some of your money goes to Bill Gates. He is a nice guy, but I don't want to give anymore of my money to him.
2007-11-24 16:50:01 · answer #3 · answered by r_kav 4 · 0⤊ 0⤋
Makes more sense than taxing the poor!
2007-11-24 14:28:35 · answer #4 · answered by Yahoo Will Never Silence Me 6 · 2⤊ 0⤋
No, because you can't penalize someone for being successfully. however, i strongly disagree with our tax code. I would rather see a sales tax (no income tax) or FLAT Tax (everyone pay the same percentage) for everyone. No tax return.
2007-11-24 14:35:35 · answer #5 · answered by donroro75 2 · 0⤊ 1⤋
Yes. Since they make more they can contribute more. I guess it won't matter too much since they already have lots.
2007-11-24 14:25:12 · answer #6 · answered by BlueJem 2 · 2⤊ 0⤋