[quote=buzz2;28876]
Quote:
Originally Posted by pseudonous  Quote:
Originally Posted by buzz2 ...Everyone would pay a 23% sales tax that is already embedded into the prices of all goods and services. The more you spend and buy, hence, the more you would pay. So, if you don't buy alot, you won't pay alot...QUOTE]
I like the idea of a flat tax but I think there might be a problem with just a sales tax. What I am thinking is that the wealthier people invest a larger percentage of their money than poorer people. I would guess the 23% sales tax would not apply to buying stocks as it would make stocks prohibitively expensive. Yet, without a tax on earned income from investments the wealthier people would make a killing and the gap between rich and poor would widen.
Does the "fair tax" address this issue? | What's wrong with wealthy people making more money? The less fortunate people can invest just the same as the wealthier can. Maybe not so much in the beginning, but they can do it. The poorer folks only limit themselves. Just don't eat out as much. Get a cheaper cable tv plan. Get a cheaper cell phone. You just have to learn to cut corners and budget your money a little wiser. Then, use those funds to invest in your future. I see no problem with the rich getting richer. Everyone in this country has the same oportunities to make their lives more comfortable. If I can do it, anyone can. Don't resent the rich for making money. Capitalism is a wonderful thing. |
Maybe for a middle class person, but for people living in poverty, it doesn't quite work that way. IMO, the percentage gap between wealth distribution doesn't need to get any larger. Take a look at these statistics, and see for yourself.
http://www.globalissues.org/TradeRelated/Facts.asp