Barry Benghazi WANTS middle class tax hikes. His Nazi toads in the state controlled “media” are going to stand by their boy and provide him with all of the cover he needs. The tax hikes will be blamed on Dubya and the GOOBers and the morons currently living in this country will swallow every bit of what the “media” toads spew at them.
Dirty little secret the Kabuki theater players don’t want to make too public - by allowing the tax rates on middle and lower income brackets to revert to their levels prior to the “Bush tax cuts”, some four times the revenue will come from that one passive step, than would result from raising the rates only on the top two brackets.
An honest taxation system would shift from income taxes to consumption taxes, collected at point of sale, and separately enumerated on the sales ticket. No excise taxes, no VAT taxes, no taxes based on some obscure reference to so-called “carbon tax”, just a flat nationally-administered sales tax.
One flat rate on ALL retail sales, regardless of the kind or purpose of the goods and services sold at retail.
Food, medicines, diamond rings, yachts, lawn mowers or refrigerators. Makes no difference at all. If it is rung up on the sales register, a separate flat amount is determined by a simple multiplication by a percentage rate held to be fair, collected at the point of sale, and forwarded to the appropriate Treasury collection point.
And not on a quarterly basis. At least a weekly basis, and preferably, at the close of each business day. With electronic fund transfer technology, this is entirely possible for almost all retailers.
You don’t think you pay enough in taxes, you have to buy more stuff. Or more expensive stuff.
Most of the top 2% file and pay quarterly estimates. I guess they could just keep using the current withholding tables for middle class wage earners but those taxpayers could get in trouble if new higher marginal tax rate does take effect.