RE: A fair tax rate
October 8, 2021 at 2:06 pm
(This post was last modified: October 8, 2021 at 3:40 pm by Brian37.)
(October 8, 2021 at 12:09 pm)Spongebob Wrote: Wow, what a topic. Get your popcorn ready.
I believe the progressive tax system we have is adequate, though perhaps it could be tweaked a bit. Current tax levels don't bother me. What bothers me is how the government spends the money. A lot of it is wasted and a lot of potential is never realized. I also wouldn't mind a shift to more state taxation and less federal, but with the balance remaining about the same.
I'm sure someone will bring up the flat tax idea, which I consider ludicrous.
Sorry if that's more than you were asking for.
If one looks at the past 100 years of tax rates, at one point the top earners were paying around 90%, 50% after tax deductions. We most certainly are not taxing uber billionaires like Bezos enough.