Wickerthing
Gold Member
- Feb 19, 2018
- 2,639
- 687
- 130
And I've made the same mistake you are making by equating tax rates with what actually is collected. The U.S. tax code is a maze of inequities and gets worse over time. It's what happens when the wealthy make up the vast majority in congress and the richest of the rich end up on the committees that matter. We have to stop voting these Ivy League lawyers and accountants into office. Their entire education is geared toward maintaining the economic status quo and finding new ways to hide income etc. The working class shouldn't have to hire someone to explain taxes at a hundred bucks while the 1% have a team of forensic accountants to help them avoid having to pay up.So what is the main obstacle in the way of an expanding middle class?
No the rich will not close shop however instead of reinvesting in a business that provides a less than competitive rate of return after taxes will reallocate what surplus capital they have left elsewhere, tax empt municipal bonds…
I made the same mistake you are making in assuming they are not paying their fair share yet who is paying the largest percentage of taxes collected today?
So why hasn’t the President or Congress just adopted a flat tax? Easy answer, politicians, and you are aware who the puppet masters are right?What is your interpretation of fair? What do you base your definition of fair on? What percentage of income after taxes is fair?
Under your doctrine what reward is received for assuming risk in R&D, investing and maintaining the life span of equipment used in a business, building apartments, rehabilitating and maintaining a building……? Do you believe a person or business that reinvests in equipment to replace or enhance productivity should be able to employ a tax credit or utilize a depreciation allowance? Who creates jobs and opportunity?
Share your thoughts?