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Taxes are not merely a fee for use of public facilities.
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What are taxes for? To provide for the functions of government.
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It is a redistribution. If that data is correct, it's what they paid after the loopholes and shelters that shielded them from the much vaster amount of tax they would have owed without access to those methods unwealthy people have no access to.
And if 1% of the population controls 80% of the wealth, why should that 1% not pay 80% of the taxes? What difference does it make if 80% of the taxes is paid by 1% of the people, if that's their share according to the share of wealth they control? |
The standard answer to that is because it's income tax, not wealth tax. If you were to already own 25% of the country's wealth, retire, pull it all out of any sort of savings/investments, would you still be expected to pay taxes yearly on it?
Some say yes, some say no. But regardless, no matter if you look at wealth or income (or, growth of wealth), the top percentile of individuals in this country pay a significantly smaller percentage of their own fortune than those below them do. |
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This is the main reason I oppose the income tax at all. I think the founders had it right with property taxes. Who possesses the most property? The wealthy. The wealthy can indeed take advantage of loopholes, but the fact is they are there often times passed into law by the very people that decry them as unfair. I would have no problem with some form of wealth tax....after all, in reality, that's what a property tax is. I also don't oppose some form of national sales tax (both of those are assuming the income tax went away). I like a national sales tax because that is a tax on consumption rather than earning and is much, much more visible to the consumer. |
Surprisingly, I agree with Scaeagles with regards to a national sales tax. It's consumer driven, and those who consume the most will pay the most. It seems more equitable, on paper anyway- it's just the implementation that concerns me. The rich have a way of worming out little loopholes and exceptions for themselves.
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The main argument against it is a legit one....being that since some 30% of people pay no income tax now, they are immediately hit by the national sales tax on all purchases.
I'm sure those smarter than me can come up with some thing, such as a graduated scale based on the purchase price, no tax on food, etc. |
Stand back! scaeagles and I agree!
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