He he he he ... I WISH it was regressive. It isn't though. Necessity spending is exempt from tax.
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He he he he ... I WISH it was regressive. It isn't though. Necessity spending is exempt from tax.
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It is regressive.
I you make $10,000 per year and I make $100,000 per year and we both buy a boat for $1,000 at say, 10% tax then we both pay $100.
That $100 is only 0.1% of my income and 1.0% of your income. That's a regressive tax system.
We need a flat tax.
1. There is no question that the present tax system has to be reformed.
2. The IRS should be abolished and another agency established to perform their function.
3. A reasonable tax system should be created to pay the costs of maintaining our civilization.
I don't think that it will ever happen as long as long as the Democrats and the Republicans remain the major political parties. IMHO
I shutter when I consider what we are passing on to our grandchildren.