mrstickball said:
theprof00 said:
The problem, the REAL problem, besides trickle-down, is the tax system.
There are currently so many loopholes that trickle-down cannot work. In theory, ie; on paper, it does work, because the money changes hands and creates taxable opportunities. However, the way it is now (even the fed chairman said so) the top 1% (and many other super rich) can literally go without paying any taxes due to loopholes.
The only real solution I've seen is to have a flat tax, because the current tax code is filled with these loopholes, and a flat income tax would have to start from scratch, but the flat sales tax looks promising too.
Also, our current market is not really a free market. We need to free up competition. |
Do understand that the top 1% do get taxed pretty heavily - they pay about 50% of all income taxes. However, I agree - too many loopholes are killing our tax system for the rich and middle class alike.
In other news, Bannedagain must be one of the worst debaters in VGC's history.
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unfortunately, one of the biggest loopholes doesn't properly display actual earnings.
There are lots of ways to hide your actual income, using offshore accounts, and diverting your income to others, and into new projects.
