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Old 01-25-2009, 07:49 PM   #24 (permalink)
Derwood
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flat tax and fair tax are two different things. this chart shows that a fair tax (ie only taxing spending above the government issued prebate) is actually regressive, as the rich spend a far smaller % of their income on living expenses. Someone making $40k probably spends close to 100% of their yearly income on expenses, meaning they are being taxed on nearly all of their income. The rich are saving a lot of their income and spending a smaller % of it on expenses, and are thus paying taxes at a lower rate (though are being taxed more total dollars)
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