Do you think that high income people pay no taxes?
In fact the way it works is, high income people have a greater incentive to avoid taxes because it means more money. You could probably find a tax loophole that will save you $2.50 a year. Would you do that? Probably not.
But if it meant saving $50,000 a year you might well.
If you close the loopholes people will find other ways to shield income, including moving and working less. This is why France is the economic powerhouse it is.
The only way to eliminate loopholes is to eliminate incentives to create and use them. That means lowering rates substantially.
In fact the way it works is, high income people have a greater incentive to avoid taxes because it means more money. You could probably find a tax loophole that will save you $2.50 a year. Would you do that? Probably not.
But if it meant saving $50,000 a year you might well.
If you close the loopholes people will find other ways to shield income, including moving and working less. This is why France is the economic powerhouse it is.
The only way to eliminate loopholes is to eliminate incentives to create and use them. That means lowering rates substantially.