Will: I understand that capital gains taxes at a lower rate than the highest income tax brackets. A fair tax would fix that by taxing spending rather than earned income.
also, you are saving your money now, but that won't continue forever...eventually you will want to retire, or you will die and your money will be taxed, again. I appreciate your decision to invest in material goods, but under the fair tax that newspaper would be taxed both when you purchased it and when you sell it, so you would not be able to escape paying taxes on it.
Roachboy, I agree in part that school systems are a wreck because they are locally controlled. However, I strongly differ with regard to the cause. The nationwide per-student cost of education is about 9,000 per student. Washington DC spends about 13,500 dollars per student but is one of the worst performing districts in the country. The problem is incompetent, unsuccessful, lazy teachers teaching poorly to students who have no interest in learning. Most school districts are able to do more with less because they have students who are more interested in learning and are more likely to have quality teachers.
I fully support re-orienting the educational system towards being more of a meritocracy...rewarding both good students and good teachers. If you do don't go to class, don't study, don't pay attention, and are generally a drain on resources you should be treated as such. If you try to make the most out of every opportunity and are able to benefit from more advanced classes/better teachers, they should be available to you.
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Guyy, I read today that it is estimated that less than 1% of wealthy tax payers have managed to escape paying taxes in the USA. I don't have the link off the top of my head.
Also, you are correct that the tax system under Bush became less progressive, but it is still progressive...the wealthy do pay more taxes, and they don't get refunds like the rest of us. The tax loopholes are largely a myth.
From:
Congressional Budget Office - Effective Federal Tax Rates Under Current Law, 2001 to 2014
The top 1% pay 22.7% of taxes.
The top 10% pay 50% of taxes.
The top 20% pay 65.3% of taxes.
The top 40% pay 84.3% of taxes.
and..
The bottom 20% pay 1.1% of taxes.
So despite all tax breaks, shenanigans, cayman accounts, etc. The top 10% of wage earners pay 50% of ALL taxes in this country while the bottom 20% pay about 1%. That's pretty friggin progressive.
The idea that the rich should pay more simply because they are rich is tantamount to theft. Everybody should contribute equally according to their consumption...if you buy more you pay more, but without regard to how much money you make.