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Originally Posted by dc_dux
No, I dont acknowledge the unfairness in a progressive tax system and neither has any US president, D or R. Neither does any industrialized country in the world.
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The point you choose not to address regarding fairness remains.
Wealthy people do not rely on income, they have wealth - progressive income taxation does not address this.
Poor people trying to improve their economic status are faced with marginal income tax rates that are unfair when they reach the cut-off points. For example, using round numbers, if at $20,000 the rate is 0%, but at $25,000 they enter a bracket where they end up with a rate of 5% on the whole amount or a tax of $1,250 - the marginal rate on the additional $5,000 in income is 25%, do you call that fair?
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"I believe in a graduated income tax on big fortunes, and in another tax which is far more easily collected and far more effective-a graduated inheritance tax on big fortunes, properly safeguarded against evasion, and increasing rapidly in amount with the size of the estate."
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The only people who pay inheritance (or death taxes) taxes, are people who don't plan under our current system. Or in some cases they are people who can not afford the costs to avoid the tax, as in the example of farmers who may hold wealth in land assets but have very little cash flow. Yet another example of unfairness in our tax code.
If you folks can fix the unfairness, why not get it done rather than talking about it constantly. In my view, people in government and the most vocal about taxing the rich probably have not real desire to fix the unfairness.