Oh boo hoo.
Doesn’t and shouldn’t matter.
Of course it should matter.
The costs of not doing those things is far higher than providing for the public good.
Otherwise we have a country of sick, stupid people. Not a great thing to build an economy on.
My idea that I’ve proposed for years.
Personal income: all income (earned and unearned taxe) EVERYONE pays the same percentage – a flat rate. One tax payer per tax form. Each tax form gets a single deduction equal to 80% of the federal minimum wage. No other deductions or credits allowed.
Corporate income. all income (eanred and unearned taxed). Again a flat rate across the board. Deductions: Anything paid to an individual taxed at the personal level. A single 30% deduction from that adjusted amount. No other deductions or credits allowed.
No it shouldn’t.
Everyone should have skin in the game.
Only because we have become a lazy society.
I want to know this too. “The rich will leave” is an extremely lazy talking point that never gets backed up by anything substantive
So do you think that the wealthy take unfair advantage under the current system to pay less than their fair share?
Do you really believe the only cause of poverty is laziness?
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Everyone does have skin in this game. Everyone already pays. What is at issue is what the citizenry gets for their money.
Right now we get a system that costs twice as much as the next most expensive OECD country with universal health care and we get middle of the road results.
If we got results that were twice as good… I would have no problem with it. But what we have now is an overall drag on the economy that is really good at concentrating wealth into the hand of the few and leaving a vast swath of the population to die without care.
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I think congress has built in a system where they don’t pay the highest rate that congress has passed. It happens why? Because congress has approved hundreds if not thousands of loopholes, deductions, write off’s . . . you name it.
My plan gets rid of all that crap. Single 80% of minimum wage deduction, and tax the rest at the same amount as everyone else.
So under my proposal.
Person making minimum wage (if tax rage 10%) pay about $200 in federal income tax.
Person making 2 million dollars (same 10%) would pay $190k in taxes.
Effectively does the same thing that progressives want, BUT just about everyone has skin in the game.
I don’t see something like this ever happening, because everyone loves their deductions and the poor love their free money (refundable tax credits).
I have a hard time finding fault in that plan, provided the removal of shelters and loopholes is ironclad. Everyone pays the same percentage of their total income. No exceptions, no weaseling out. Fair.
The rich don’t love their free money? I thought you were about being fair.
Well for starters, we’ll be able to replace Betsy DeVos as Secretary of Education with someone who actually understands education.
So that’s one benefit.
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How would the revenue raised under this plan compare with current revenues?
This is why I have such a hard time getting behind Warren. I am adamantly against Medicare for All and would rather adjust things here and there to make insurance more affordable and accessible.
Also. Wish Democrats would stop talking about health care because Republicans never talk about it and it just is a way for the Republicans to pick apart candidates.
Show me a super rich person who gets back above and beyond their federal tax liability (keep in mind minimum alternative tax).
I have to pay if you smoke.
If you drink
If you are fat
If you are old.
If you are young.
You think I want to pay for you? No I dont but that’s not how insurance works.
Donald bragged that he did.
I m not poor, but I love my 2 years of free money through tax credits for the solar panels on my roof.
Thanks everyone!
Because they think they are next in line.
Meanwhile those rich folk would punch them in the face and walk away from them while they ask for another.
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Most of the rich pay a lower tax rate than us poor folk anyways.
Which makes snows defense even more fun.
