General Discussion
In reply to the discussion: Would a very low income tax and a very high inheritance tax please everybody? [View all]MosheFeingold
(3,051 posts)Income taxes are fine, but they actually target the upper-middle-class. People who still work for a living and get "income." And there is a HUGE distinction between wealth and "high income." A really top-flight doctor making high six figures and having low-seven-figure student loan debt is in a world of hurt, for example. And, me, perhaps because I am old, want my doctors to get rich as crap treating me. That encourages them to do a good job.
Sales/VAT tax consumption and target actually rich (as in, disposable income rich) people.
Property taxes target rich in stuff.
Inheritance tax generational wealth, but really don't get the 1% but against screw the upper middle class as written.
A nice, balanced, overall plan is what is needed, using all of these. You could even put in a flat tax to make the Republicans feel good.
I'd wonder what a 10% flat income, 10% sales, 10% property, and 10% inheritance/gift tax would result in.
I have a sneaky feeling it would balance things out and the Uniparty would be toast.