MODU
Atlas Star
Posts: 22,023
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« on: March 15, 2006, 10:44:12 AM » |
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One way or another, the current tax system needs to be scrapped and started over from scratch. Just like writing a computer program that you update repeatedly over time, you start creating issues where the program will crash where the new lines of code class with the old lines of code. The same is true with our current tax system.
With a progressive tax system, the burden is shifted disproportionately to the higher income earners, sparing the "poor." This is good, assuming the rich in the nation are still active income generators and do not abuse the current (endless) pages of exemptions. With a flat tax system, each member above a certain financial standing position (aka, the "poor") are charged at the same percentage rate, with most deductions elimitated from the calculation.
Personally, under either model, we need to ensure we tax people based on their total wealth, and not primarily on their income. This is the only way the true rich people carry their proper percentage of burden, especially when the endless list of deductions are limited.
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