Quote:
Originally Posted by Red Slinger
Why the middle class? Why not the wealthy and uber-wealthy? Or a scaled version of little bit from middle to much more from wealthy?
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Once again, to target the wealthy, you'd need an overhaul of the existing tax system first. Firstly, you have to eliminate all tax avoidance schemes. You'd also have to deal with the issues of inheritance, trusts, corporate tax breaks, off shore holdings, etc..
Once you do away with all of that and put in place some system with a very high marginal tax rate, what's the motivation for the working wealthy to continue working those extra hours? If I'm working 70 hours a week, am I going to work 75hours if 70% of that income is taxed?