Since the Federal Reserve can increase the money supply/ create money, aka print money. Why does anyone need to pay taxes?
Currency is not the same thing as wealth. You can't 'print' wealth for people. It's exactly why we've been dealing with inflation for the last 4 years. It's also why more Americans are struggling when they 'have more money'
I'm all for everyone to pay their fair share. Considering ~40% of people don't pay any income taxes... a lot of people will be surprised what their fair share is. A flat tax of 20% of all income (regardless of source) from all people should do the trick.
Nah. Progressive income tax with top bracket in the 90% range, and including negative income tax. And outlaw stock buybacks. Also, environmental impact tax with progressive dividend. That should just about do it, before we get into converting all medically necessary healthcare (as determined by your doctor) to Medicare For All, eliminate lobbying, make junior college taxpayer funded as well as taxpayer supported free trade schools, etc ...
New York Times reported many capitalists who abandoned Trump due to disastrous COVID response are back on board. They loathe him, consider him unqualified and incompetent but the next four years will determine if tax cuts for the rich become permanent. Getting richer is worth destroying democracy. They also want right wing judges. They don't care about abortion or marriage equality. They want to end labor unions, environmental regulation, health and safety regulations, child labor laws. And make it harder to vote.
If we aren't paying taxes then they wouldn't be working for us, right? How could we demand their respect, or any action or service at all? If we aren't paying them, what do they need us for? Then we become the product they are selling. I'd rather pay taxes and know I have the right to demand results.
Every day it becomes a more and more attractive option. At least I'd have some money with which to buy American "justice"......but then, some rich asshole would just outbid me like they always do.....
Changing the tax scenario could change the dynamic and solve so many problems. And guess what? They’d still be filthy rich. Flat tax is a great solution. The problem being that the reason the rich want to get richer is because of stockholders. Many millionaire/billionaires don’t want their piece of the pie affected.
I'd only go for a "flat" tax if it were coupled with a negative income tax or UBI type benefit that offset the tax for those in poverty.
I think those in poverty shouldn’t be tax exempt. They get enough government subsidies that offset it to begin with. Heck it doesn’t even take poverty level to be eligible for food stamps if you have kids these days.
