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Originally Posted by Boo
I hope this doesn't turn into another one of those "tax the rich" because they can afford it threads. Paying the same percentage on a higher amount of income is fair enough. I don't agree with all the loopholes. I do believe that getting screwed over because you make more money than the masses is against the constitution. No wonder people look for loopholes. We should all pay the same flat tax, no loopholes, with a minimum tax requirement based on personal income. Hard work and sacrifice deserves reward.
It really sucks to think that when I get into 6 figures that everyone would believe that I was born with a silver spoon and deserve to pay a higher percent than they do. 37% is ludicrious!
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It sounds good in theory, but when you put it into practice it doesnt work too well.
Think about it... just as an example lets say you have a flat tax of 20% . A low income working making 20,000 per year gets 4000 taken out, almost putting them into poverty, which a 100,000/year salary gets cut down by 20,000, still leaving them with a comfortable 80,000 a year to live on. Doesnt work too well.
The biggest problem is fiscal irresponsiblity. Cut the pork out and the burden is lowered.