Sigh. Buffet isn't at all a disinterested party in this matter. A tax affecting the lower end of the rich puts a barrier to entry into the ranks of the megarich. Lowering the cost of real estate, airplanes and businesses for him.
Can't we all just have a flat consumption tax and be done with it? 10% would benefit everyone (in particular retirees and savers), increase actual collections and be simpler to administrate (you get to fire a bunch of government employees). Increased revenue, reduced complexity, favouring savings. That sounds like a win to me.
In particular Alexander Hamilton wrote in the federalist papers about how these sorts of taxes were harder to raise to confiscatory levels. which 35% certainly is.
Although I love the idea of a completely consumptiom based tax system, one reason it will never happen is because:
"(you get to fire a bunch of government employees)"
Comments
Sigh. Buffet isn't at all a disinterested party in this matter. A tax affecting the lower end of the rich puts a barrier to entry into the ranks of the megarich. Lowering the cost of real estate, airplanes and businesses for him.
Can't we all just have a flat consumption tax and be done with it? 10% would benefit everyone (in particular retirees and savers), increase actual collections and be simpler to administrate (you get to fire a bunch of government employees). Increased revenue, reduced complexity, favouring savings. That sounds like a win to me.
In particular Alexander Hamilton wrote in the federalist papers about how these sorts of taxes were harder to raise to confiscatory levels. which 35% certainly is.
Although I love the idea of a completely consumptiom based tax system, one reason it will never happen is because: "(you get to fire a bunch of government employees)"