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View Diary: Why Contracting Out and Privatization Has Gone Way Too Far (24 comments)

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  •  Well, that's where you and I diverge (1+ / 0-)
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    katiec

    I think the proceeds from both labor and capital should be taxed, and both at a rate higher than currently done.

    I make over $150K per year gross and pay less than 12 percent total in Federal taxes. Hey! I'm happy to have the extra cash, but the truth is that's nuts.  It's far too low.  And I don't do anything fancy or exotic: every year, I buy a standard Turbo Tax CD and have it walk me through my taxes.

    I suspect those who pay thousands to attorneys and tax preparers to shield their sizable incomes pay a considerably lower percent than do I.

    And that's not right.

    •  I see your point. But still think that (0+ / 0-)

      concentrating on % at the exclusion of what and why we tax in the first place is part of the reason we're in this mess.

      And, while $150,OOO is a lot, it's not $70,000,000,000, and doesn't lead to the financialization of our economy.

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