Why do all the new tax schemes punish achievement ? Its about time that the lower income levels start paying some taxes instead of putting it all on the individuals who REALLY earned their income ( except Hollywood of course )
“Its about time that the lower income levels start paying some taxes instead of putting it all on the individuals who REALLY earned their income ( except Hollywood of course )”
Plenty of ‘hign income’ folk didn’t “REALLY earn it”. Look at Theresa Heinz-Kerry, $5 million a year in dividend income. Note that none of these changes would affect that, though - it’s taxed at the 20% long term capital gains rate.
What we really need is the Fair Tax. Income tax is a joke, and a real nasty one if the IRS gets involved with you.