Quote:
Originally Posted by Professor S
1) Install a progressive flat tax: All income up to $38,000 pays no federal income taxes. Every dollar above that number is taxed at 25%. This way everyone can plan accordingly, and in the end the rich pay more in taxes simply because a far higher percentage of their income is above the $38k threshold. Also, no one is punished for succeeding. NO LOOPHOLES.
2) Eliminate the corporate tax. Corporations do not pay taxes. People do (investors, employees, or customers) so let them pay taxes with their income and not provide corporate loopholes so they can hide their income.
3) Pass a balanced budget amendment.
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1) Is a cool idea. But there's a tiny minority of people with a growing majority of the cash flowing through this country. If these people are going to continue to consolidate wealth at this rate, they need to put it back into the economy. They're not doing it by choice, they're not creating (nearly enough) jobs, and they need to be taxed a hell of a lot more than 25%.
2) Yes. And corporations shouldn't be "people". It's a joke.
3) Obviously easier said than done.
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