Quote:
Originally Posted by Enoch Root
I agree with everything that you are saying, but I have a few comments:
1) We all agree that billionaires should pay more tax, but I have yet to see anyone present anything that would have any impact on this whatsoever.
2) There are actually very few loopholes. There are ways to defer tax (most of which are quite reasonable), but there are actually very few ways to avoid it
3) Sales tax is good, because everyone pays it and it can't be avoided. But let's be clear about this: sales tax is a tax on the middle class, not on the rich. Sales tax will have zero impact on the ultra-rich, and very little impact on the rich, because the wealthy spend a significant portion of their money out of country.
Sales tax is a tax on the middle class (assuming that essentials, like food are exempt, so that it isn't also a tax on the poor).
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You could exempt some essential items, but my point is that the middle class needs to pay some tax too.
Maybe have an income tax on the rich after $500,000 in earnings?