Quote:
Originally Posted by bronco67
Since you obviously don't understand simple math....
Let's hypothetically say that everyone pays a flat tax of 20%.
20% tax on a $30,000 income is $6000.
20% tax on a $500,000 income is $100,000.
Which family will be hurt more? The one who can barely pay their electric bill, or the one who may have to buy one less boat?
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That's nonsense. You obviously have never even known anyone successful, and certainly were never successful yourself.
One issue is that the guy making $500k is already operating at the max level, so there isn't much he can do to solve the $100k budget problem he now has. Think of a business owner who grinds 7 days per week, what is he going to do, grind 8 days per week? No, he is fucked.
On the other hand, guy making $30k can easily make extra $6k. He can for example spend few months going to some trade school, then instantly make $40k, $50k or even $100k/year depending on how motivated he is.
Another issue is that the guy making $30k pays $50 for his electric bill, while the guy making $500k lives in a bigger house and pays $500, so after 20% tax they both would have same difficulty "paying their electric bill."
Same goes for owning a "boat". $500k guy might enjoy boating (cost=$10k/year), while the $30k likely enjoys biking (cost=$100/year). What makes you think that the $500k guy will be hurt less by not being able to enjoy his hobby than the $30k guy?