So everyone should have the same tax bill?
Reader comment on: Cut Spending on the Rich
in response to reader comment: Let's run the numbers.
Submitted by benjamin (United States), May 12, 2011 20:21
So to clarify - you think your pal Warren Buffett and the guy at the corner store should pay the same amount in taxes? Basically, take the cost of the federal government, divide it by the number of people of taxpaying age, and send them the bill?
Note: Comments are moderated by the editor and are subject to editing.
The Future of Capitalism replies:
No, that'd be a head tax. But I think there's a case for taxing them all at the same rate, with some basic exemption, maybe even refundable. I'd include payroll taxes in that too. Either than or some kind of consumption tax.
Example: 10% rate. Guy who earns $100,000 a year pays $10,000 a year in taxes. Guy who earns $1 million a year pays $100,000 a year in taxes. You earn 10 times more, you pay ten times more taxes. Maybe the first $25,000 earned is tax exempt so the first guy pays $7500 a year in taxes and the second guy pays $97,500, but that'd be my basic approach.
Other reader comments on this item
Comment on this item