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Old 06-30-2010, 09:14 PM  
Relentless
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There are two simple solutions and one reason why neither will ever happen.

Either... go to a flat tax of 15% with a 50K exclusion for everyone. Meaning if you make less than 50K you pay 0, if you make more than 50K you pay 15% Income beyond that free 50K.

Or... go to a consumption based tax that sets rates on each item you buy like a sales tax and get rid of income taxes entirely.

We will not have either of those solutions because we have a 67,000 page tax code (literally). Thats 67K pages of loopholes which keep tax lawyers and accountants in business and they spend billions every year protecting the status quo.

The idea that the top 1% pay more than the bottom 95% is horseshit by the way. The number that matters is as a percentage of what they earn - what did they pay. If you earned 100M and paid 1M in taxes you paid more taxes than all the people who are in poverty.... congrats, your tax rate is also still only 1%. Warren Buffet has paid more in taxes by himself than a good size percentage of the entire population. He is still trying his best to find a good way to give away 30-40 Billion dollars AFTER all the taxes he has paid. He is not crying about it either.

Also... the top 1% is a very misleading number because the top .5% of the top 1% earns more than the other .95% of the top 1% combined. So you are essentially whining mostly about the taxes that Buffet, Oprah, Bill Gates, Mike Bloomberg and the like paid.... and none of them are complaining.
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