Message to socialists -
"Fair share" of tax means a flat tax (same %) for all taxpayers who pay tax. It does NOT mean fleecing the super wealthy by confiscating their wealth.
After income tax/capital gains tax/wealth tax and inheritance tax, some nations take 65-70% of wealth.
"Fair share" of tax means a flat tax (same %) for all taxpayers who pay tax. It does NOT mean fleecing the super wealthy by confiscating their wealth.
After income tax/capital gains tax/wealth tax and inheritance tax, some nations take 65-70% of wealth.
Basic maths - (20% flat tax)
A person who makes $100K pays $20K in tax
A person who makes $1m pays $200K in tax
A person who makes $10m pays $2m in tax
A person who makes $100m pays $20m in tax
Wealthy do pay more tax, even with a flat tax regime.
A person who makes $100K pays $20K in tax
A person who makes $1m pays $200K in tax
A person who makes $10m pays $2m in tax
A person who makes $100m pays $20m in tax
Wealthy do pay more tax, even with a flat tax regime.
Penalising the wealthy because they have more money is immoral and wrong.
Inheritance tax is the biggest form of legal theft that exists ---> that capital has already been taxed once or even more than once.
Being ambitious, working hard, saving and investing isn't a crime.
Inheritance tax is the biggest form of legal theft that exists ---> that capital has already been taxed once or even more than once.
Being ambitious, working hard, saving and investing isn't a crime.
Why do many wealthy people find loopholes and avoid taxes? Simple answer --> tax rates are too high!
If there is a flat-tax system where incomes/capital gains are taxed at a more modest rate across the board, there won't be any reason to mitigate tax and most would pay.
If there is a flat-tax system where incomes/capital gains are taxed at a more modest rate across the board, there won't be any reason to mitigate tax and most would pay.
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