Quote:
Originally Posted by 12clicks
oh look, another unemployed know it all coming in to explain the CBO's numbers are wrong.
son, no matter how much the government takes from your betters, than money will never make it into your hands.
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Actually Ronald it's 'unemployed know it all' Warren Buffet who has explained your numbers are wrong.
And you prattling on arguing with him about an amount and a tax policy problem that you personally will never reach.
TheDoc keeps pointing out that we have a graduated tax bracket system where we all pay an identical rate on the money we earn at each level of taxation. The guy earning 18K doesn't pay any more or any less than you, me, or Warren buffet on our first 18K and so on up through each bracket. He is correct, though he does a poor job of explaining it.
The simple fact is that the bracket 'tax rates' have become meaningless.
What matters are the actual tax rates people are paying on their income.
When deductions and loopholes allow people to reduce their actual tax rate to the lowest bracket from the highest bracket... Who cares what the brackets are listed at?
An absolute tax rate that capped all deductions and loopholes is a simple and effective fix for the problem.
If the defined bracket was stated instead as 'starting at 35% but never less than 30% regardless of deductions' the gamesmanship would be curtailed and we would begin to have much more meaningful discussions about tax policy because the rates would matter. As it is now, a large percentage of people aren't paying their rate and could care less what it became. If the highest bracket suddenly went to 99% you would still see Warren Buffet paying close to 17% because the bracket has little bearing on his taxation.