I agree - it needs to be replaced, although I prefer the flat tax. Read Steve Forbes latest book. You might find it interesting. Hopefully, someone will have the political courage to make it happen. I don't know a single person outside of politics or the tax industry who is in favor of keeping the current system.
What do you think the national tax would be if we had one. I am paying like 25% income and 7.75 state tax... that is over 30%. Plus I don't spend as much as i make so they would lose money cause of the high tax on all goods. People that think we can have a 15% national sales tax or smoking something good and should pass it around
One more comment. One person commented on the wars and history... Well lets go back before the wars when there was no income tax. I missed that part of history. If there was a national sales tax I wouldn't buy crap cause I know where most of the money I spent went. To the people we call government. I truley believe our economy would sink with a national sales tax.... jmho though
jrlvnv you forgot the other taxes Lets see what an average middle class guy pays in taxes: Property Tax Gasoline Tax Alternative minimum tax Federal Income Tax State Income Tax Sales Tax If you smoke, exclusive sin taxes on tobacco products Social Security Tax ( another scam tax, I won't get any of it when I retire) Medicare Tax ( another scam ) Federal infrastructure fee ( in your phone bill ) ......I'm sure I forgot some other friggin hidden taxes. Add them here. Now if you're a little guy running a small business, well now you're really screwed. people on welfare take home more money than you after you're done paying: Self employment tax payroll tax inventory tax local tax Federal infrastructure fee ( in your phone bill ) plus all the taxes above. plus other friggin taxes I forget Now I mentioned earlier why do people keep on posting DA REECH PAYEES ALL DA TAXES and asked for proof. Well I got some friggin BS stat from the IRS. Now you people want to tell me The Rich eat more burgers ( payroll tax, sales tax, inventory tax, income tax, inventory tax, ++++.....) and pump more gas (gasoline tax) and own more property ( property taxes,Utility taxes..) than the middle class does? The middle class always get screwed because as someone said they're too busy trying to put food on the table and pay for a roof over their heads. Today, the rich are taxed mostly by capital gains taxes. Capital gains are taxed at a fraction of what normal income is taxed. The rich pay a much smaller percentage for social security than do the middle class. If you're talking about income taxes thats one thing, but you really gotta be insane to come out and say the wealthy pay the majority of Tax. My advice is quit smoking that pole and go to detox to clear your friggin minds.
It makes sense that there is a ceiling on ss tax that is paid because there is also a ceiling on payout when collecting it. As far as the rich paying less consumption taxes than the middle class it depends on how rich and where they live. If you live in NY and earn $200k a year you are probably paying over half of your income in taxes and living a very modest life on the rest. Unless you are uber-rich you are probably still doing a lot of consuming and also most likely are living in an area with a high cost of living. No matter how you slice it, the wealthier classes pay the large majority of the taxes.