Quote:
Originally Posted by VladtheImpaler
It's progressive in the US, but not as progressive as ours, so the top bracket pays more rate-wise than the lower brackets. But when you factor in the various exemptions, the lower end pays no taxes at all. So, I fail to see the validity of the argument. Because someone making $250K can afford to send their kids to university is not a reason to jack the tax rate for them (and them alone).
P.S. To flip it on its head, a whole bunch of banks, and Fannie and Freddie thought the non-tax-paying bottom end should get mortgages to buy houses, which is a large reason for the current mess. Why not say, if you can own a house, you can pay taxes? Same logic.
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Well they obviously couldn't afford the house, nor could they afford to pay taxes.
Actually, they very easily could pay taxes, and they might have been able to afford a house, just not the $1.5 million dollar one that they got at super low mortgage rates.