Saturday, December 22, 2007

Taxes: fact and fiction

This has been a favorite topic of mine recently, because of a debate that took place in my parent's dinning room recently. The Republican side of my family (which accounts for most of it) claimed that the wealthy in this country pay more than their fair share of the taxes already. My contention is much the same as this post from Robert Reich. They are not looking at the total tax burden, which is much more regressive than most people think. Additionally, they have to look at the fact that a fair rate has to be determined based upon amount of income. It's not based upon how much of the total tax revenue is paid by a particular class.

In my opinion, with great wealth comes great responsibility.

1 comment:

Leroy said...

Most lower-middle class Americans pay little or no federal or state income taxes. Yes they pay all the other taxes, but only in proportion to their spending and consumption. I keep asking everyone who barks about the wealthy not paying their "fair share", what exactly is a "fair share", and who should determine what it is? So far, I have received no practical, thoughtful or workable answers - at least none better than Congress should decide who and how much. I also note that the socialists and communists who argue for massive income redistribution never acknowledge the fact that America, the most prosperous nation on earth and a nation in which the so-called "poor" live better than the upper middle class of most other nations, became so on the strength of investments by those willing to take risks and to get educated, on the promise that their sacrifices will be rewarded, not stripped from them and given to those who are already benefiting from free enterprise and capitalism. Finally, show me the socialist or communist society that has produced a better standard of living than America's.