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Old 02-24-2013, 08:27 AM   #217
patteeu patteeu is offline
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Quote:
Originally Posted by KC native View Post
Our tax system has historically been based on two things, fairness and ability to pay.

If we are going to raise sufficient revenue to fund the things that we as a society have deemed worth funding, we aren't going to get it by raising taxes on the lower rungs of wage earners. You can't squeeze blood from a turnip.
How do you define lower rungs? The bottom 99% has a lot more blood to give than the top 1%. Raising tax rates on the first dollar of income would generate a lot more revenue than raising the rate on the 100,000th dollar or the 1,000,000th dollar.

Quote:
Originally Posted by KC native View Post
The wealthy get a tremendous deal in the USA these days. They have never seen lower tax rates (modern financial era, so after the creation of the Fed, no idea of before then). They have access to the best financial markets in the world. They have protections for their wealth.

The wealthy have an ability to pay more. Considering the tremendous benefits our society provides them and considering the magnitude of those benefits, it's also fair to expect them to pay more.

If we didn't have a debt load and deficits or the already promised benefits, then the rates as they are would be fine. Unfortunately, a little thing called reality gets in the way.
The working class gets a tremendous deal in the USA these days. I wonder how many of them would want to emigrate to Mexico or any other third world country.
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