Over the past couple of weeks, we've heard both Obama and McCain talk a lot about taxes. There's a lot of rhetoric, so let's try to sift through what's been said and figure out the reality and the reason behind the words.
First, we've heard Obama say time and again that McCain favors tax cuts for the rich because he supports extending the Bush tax cuts. The Bush tax cuts lowered the upper income bracket's federal income tax from 37% to 35%. Now, I'm not mathematician, but 35% seems like a heck of a lot of your hard earned money to be paying out in taxes. Now compare the 35% that the upper bracket pays to what I would consider the middle class. Those who make between $33,000 and $79,000 only pay 25%. So the tax burden of the upper class is still significantly higher than that of the middle class. So basically what Obama is saying is that, even though the upper class already shoulders the majority of the tax burden in this country, they're not giving enough of their hard earned money to the government.
The progressive tax system is a complete joke to begin with. Why should those who make more money pay a higher percentage? Just because they can is the answer we've been getting from Obama and Biden. Biden even went as far as to say the upper class needs to be patriotic and accept the higher taxes. The fair tax, or even the flat tax for that matter, would be a much more fair way of distributing the tax burden. If we simply had a flat tax, where everyone paid the same percentage, those making more money would obviously still be paying more. Let's just assume we had a 10% flat tax. Those below a certain income level would obviously still pay nothing, but for those that make $30,000, they'd be paying $3,000 in taxes. Someone making $100,000 would be paying $10,000. You make 3x more money, you pay 3x more in taxes. Seems like a more fair system to me.
Or, even better, how about the fair tax? Let's abolish the income tax altogether and get rid of the IRS, who is simply soaking up billion of budget dollars every year. A fair tax would be a federal sales tax that would fairly tax a person's buying power. A person who has the means to purchase more expensive items will naturally be paying much more in taxes. Not to mention, this would make it impossible for illegal immigrants to avoid paying taxes as well as solve the problem of people simply not filing taxes. There would be NO filing, and everyone would be paying into the system, no exceptions. The progressive system isn't fair to begin with, but apparently Obama thinks it's a little too fair to "the rich." What a joke...
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2 comments:
Nice article, I agree with most of what you said. But I prefer the "fair tax" over the "flat tax" because it's a tax on sales rather than a tax on income. The power to tax income is absolute and it has corrupted our government absolutely.
The fair tax is definitely the proper fix but, the only way we're ever going to see it passed is to replace the people who are in office now with people who actually support the fair tax. We need to ignore the MSM networks and their stupid commercials and consider ONLY third party and independent candidates who support the fair tax.
Thanks for the comment. I agree that the only way to make progress in this direction is to vote for individuals who have made it clear that they support the fair tax. Making small changes to the current tax system does little to no good. The entire system needs to be re-worked. Thanks for reading.
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