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daybranch

(1,309 posts)
7. We already have a flat tax
Fri Aug 21, 2015, 08:45 PM
Aug 2015

they took much of the progressiveness out by flattening tax rates and by subsidies and deductions that mostly benefit the very wealthy. So today the working class pays more than their share of taxes so the poor ( the working class when not working) and the old poor or the disabled can survive with a minimum of dignity.
We need to revamp out tax system, raising rates much higher than 30 percent for millionaires and much more than 50 percent for billionaires. We also need to force off shore money from staying off shore and tax it at high rates. Then we should turn our attention to the estate tax and lower the amount not taxed to $200,000 or so with progressive rate increases s until we reach 90 percent at estates $1 billion or more.
Let the rich start paying their share. If 90 percent of the income goes to them, it seems they should pay at a rate of 90 percent without complaining.

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