It's another year and another plan on the table.
We've been talking taxes for a long time.
We've been talking taxes for a long time.
The Washington Post has a good editorial in 2009 called Who Pays Taxes:
"In 2006, the top 20 percent of earners paid 70 percent of all federal taxes.
On average, they paid 26 percent of their income to the government.The very richest -- the top 1 percent of taxpayers, with household incomes of over $332,000 -- paid 28 percent of all taxes, with an effective tax rate of 31 percent.
The middle three quintiles paid rates of 10, 14 and 18 percent.
The lowest 20 percent of households paid only 0.8 percent of all federal taxes -- and the bottom 90 percent of households paid only 4.5 percent.
Based on these numbers, it would be hard to argue that the country doesn't already have a significantly progressive tax system."
That's right! We have a very progressive tax system. The top earners are clearly paying the bulk of taxes in the US.
Don't misunderstand. I'm OK with the rich paying a lot of taxes.
I just detest the ugly class warfare, specially the class warfare that comes from the Obama White House.
Perhaps, we can simplify our tax code.
I have always a favored a national sales tax and the elimination of our federal income tax.
We have a US$ 15 trillion GDP. I think that we can run our federal government with a national sales tax.
