10-18-2008, 10:28 PM
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On to California.....
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Join Date: Jan 2005
Posts: 3,170
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Total Points: 2,619,873.44
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Quote:
Originally Posted by NewYorkBuck
If you really want to capture some of the wealth from the truly wealthy (and no one has yet argued why this should be the case, but lets assume thats the goal), you need either a wealth tax or a consumption tax. Less than 1% of the nation controls over 33% of the WEALTH. These people who have it all almost pay no tax. The people they hire to issue their debt, do their legal, do their accounting, etc. do. A consumption tax would now capture these free riders. If you want to do a wealth tax, a 10% wealth tax on the top 2% would FREE THE OTHER 98% COMPLETELY FROM ANY TAXES. Just taking 10% from the truly rich would pay for all of the nations taxes on every level. Now you can see why it would never happen.......
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NYB,
So the "fair tax" is the solution? It seems to me that it would (for the most part). Don't know all the intricacies of the "fair tax" but it almost sounds like a derivative of the VAT. Your thoughts on the subject.... |