When I was in the seventh grade I wrote an essay in my civics class promoting a flat rate income tax. I think I said about 12 or 13 percent. I got an “A” from my favorite teacher, J.B. Childs. For perspective, that was a long time ago, in the 50’s, when we still had 90% top tax rates, if I remember correctly.
Today, when I see the salaries paid to actors, corporate executives, sports figures, and recently even public school administrators and compare them to the entry level pay of places like Walmart, there is a disparity that is way too large. That’s why I believe in a very moderate progessive rate, but certainly not to approach 90%. Maybe 40%. On the other end, the current situation of half of the population paying zero, or even receiving a refund when paying nothing is wrong. All should pay some tax.
When the government judges what is appropriate income then it will judge and rearrange eventually all income, not to make it equal but to own and control all income and assets. That is what we are getting right now with obamacare. Is that Hollywood star’s income hurting your situation? Is this really a zero sum economy? How is your life enhanced by taking his for the government to use? Do you base your own self estimation against a movie or sports star’s income relative to yours?
I work hard long hours and fall into the 39.5% tax bracket, and that’s fair? the harder and longer I work, I am to be punished?
Flat tax is the only thing I’d ever agree to, and no more than 10%.