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View Diary: Buffett's fiscal plan: A millionaire's tax (96 comments)

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  •  Not really (5+ / 0-)

    $250k is about $5k a week in income. I think that reasonable people can agree that we shouldn't have a fuckload of sympathy for anyone who has trouble making ends meet on five thousand dollars a week.

    The problem is that our tax system is inherently, brutally regressive. The solution is more progressivity, and the means to that lies in software that can allow lower income earners to turn in their receipts and get refunds on sales taxes, property taxes, licenses, and user fees. Filing returns online can also make it much easier to have more income brackets, thus enabling higher rates on higher incomes.

    Obviously, more taxes will not be enough, and spending will need to be cut. We can start by bringing the troops home and telling the rest of the world that it's their turn to spend trillions on "defense", and we can tell any billionheirs who want to "Go Galt" in some Caribbean tax haven that we'll be selling their personal information and new addresses, along with some old destroyers, to the Somali Pirates.

    Al Qeada is a faith-based initiative.

    by drewfromct on Mon Aug 15, 2011 at 06:58:06 AM PDT

    [ Parent ]

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