This is an astute and important point. I have always found it flawed that a middle-class American family making around $100K in income will pay more taxes than someone with $10M+ portfolio of municipal bonds.
With that said, I agree with Mark Cuban's philosophy here, and do not get personally upset with paying taxes.
I don't think the solution is to complain about taxes on high income earners. Rather, there just needs to be more pressure on instituting equivalent taxes for other forms of wealth generation (i.e. get rid of tax-free bonds).
Comments
This is an astute and important point. I have always found it flawed that a middle-class American family making around $100K in income will pay more taxes than someone with $10M+ portfolio of municipal bonds.
With that said, I agree with Mark Cuban's philosophy here, and do not get personally upset with paying taxes.
I don't think the solution is to complain about taxes on high income earners. Rather, there just needs to be more pressure on instituting equivalent taxes for other forms of wealth generation (i.e. get rid of tax-free bonds).