Quote:
Originally Posted by PepsiFree
Sure, but you're never going to get buy in from wealthy people by saying "you can't spend all your money, so we're going to take more of it."
If you were to set a flat tax rate of 30% with a first-30K exemption, everyone making 60K or less would be paying the same or less in income tax than they are today. You end up collecting more from everyone in between 60k and 250k/yr. This is a large portion of the population. Raise the progressive tax rate of salary earned over 250k isn't going to make that big of a dent.
Again, why are poor people worse off under this system than they are today?
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Exactly, if they have to pay more taxes how will they CrEaTe JoBs