Recently the Congress and Our Dear Leader passed and signed into law the large tax cuts for the rich……and now they are talking about another round of tax cuts for those same rich people……
And what if the “Blue Wave” is successful……will the tale told by Dear Leader about the raising of taxes come true?
Whatever happened to the notion that rich people should pay their fair share of the cost for their country’s public programs?
Progressive income taxes―designed to fund government services and facilities—go back centuries, and are based on the idea that taxes should be levied most heavily on people with the ability to pay them. In the United States, the federal government introduced its first income tax in 1861, to cover the costs of the Civil War. Although new federal income tax legislation in the 1890s was ruled unconstitutional by the U.S. Supreme Court, the resulting public controversy led, in 1913, to passage of the sixteenth amendment to the Constitution, firmly establishing the legality of an income tax.
https://www.counterpunch.org/2018/08/01/lets-tax-the-rich/
Personally I have NO problem with everyone paying the same amount of taxes or the elimination of some of the beneficial deductions of the wealthy…..not to worry these people will pay the taxes and still find a way to turn a profit……then let us do the right thing and we all pay the same amount of taxes….so yeah…tax the goddamn rich!
I have given my solutions for true tax reform and not just a few tax cuts….unlike most bloggers I do not just bitch about something I also offer what I think is a better plan…..(please check out my solutions and see if they are not a better way to tax the people)
https://gulfsouthfreepress.wordpress.com/2017/09/01/tax-reform-2017-edition/
After all there is still “Taxation Without Representation”…….and I have written about this situation as well……https://lobotero.com/2011/05/12/no-taxation-without-representation/
So I Have Written!
Turn The Page!
We have a different tax system here of course, based on a supposed ‘sliding scale’ of income. Someone on low wages pays 20%, but a wealthy person or high wage earner pays up to 40%.
An easy example shows how this is still ‘unfair’.
Low wage= say £15,000 a year. Tax at 20% = £3,000, leaving the worker with less than £12,000 after deductions that include National Insurance, or £231 a week.
High earner= say £500,000 a year. Tax at 40% on most of that = £200,000, leaving that person with just under £300,000 after deductions, or close to £6,000 a week. More than most people ever have time to spend.
Maybe it’s not the tax system that is wrong, but the unequal salaries?
Best wishes, Pete.
I think it is both the tax plan and the unequal salaries. In th US pay for the top one percent has just exploded. I don’t know how to change that. They sit on each other’s corporate boards and keep raising pay for top executives.
We are having a populist pushback here. Results are still pending.
I like that system better than the US system of the poor pay all the taxes….chuq