[DMCForum] Re: THE US TAX SYSTEM IS A FLAT TAX NOT A PROGRESSIVE TAX SYSTEM

["Flavia" <frvianna@xxxxxxxxx>]

Yep, you are right. If you made a million dollars and paid 40% of 
taxes, you still have 600,000 in your pocket :) as opposed to someone 
who made 100,000 and paid the same 40% that taxpayer will have 
60,000. Now who has a more comfortable life? 
Of course that it will never be 40% of the income bc of the 
deductions, as noted, but I don't quite agree with getting rid of the 
deductions. Instead I think there should be some kind of extra 
payment for huge fortunes, sort of like the minimum amount that is 
paid according to the tax braket plus a percentage over the excess 
of... that percentage should be incread for those who make more than 
1 million, for example.

Flavia, poor student who needs the deductions on tuition payment :)

--- In DMCForum@xxxxxxxxxxxxxxx, Marc Levy <malevy_nj@xxxx> wrote:
> We do not have a flat tax because of all of the
> deductions.
> 
> Wealthy people have more tax shelters.. more ability
> to make deductions.  I would guess that wealthy people
> pay a lower percentage of their income in taxes than a
> low income person... even if we ignore all of those
> limits you talked about.
> 
> Get rid of all the deductions, set a tax rate, and
> everyone pay it.
> 
> 
> --- Bob Brandys <BobB@xxxx> wrote:
> 
> > 
> >
> 
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