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View Diary: CSI: Federal Reserve (221 comments)

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  •  And yet (2+ / 0-)
    Recommended by:
    Mumon, lgmcp

    they will argue up and down, with a straight face, that cap gains shouldn't be taxed at all because it's "double taxation" (based on originally taxing the $ that was invested).  So, it's compltely OK to tax earbed income up the wazoo-- but the government is just wrong to go after unearned $!

    •  With all the fans of "flat tax" 'simplicity' (0+ / 0-)

      let's try this for simple:  you get more money, you pay more tax.

      "The extinction of the human race will come from its inability to EMOTIONALLY comprehend the exponential function." -- Edward Teller

      by lgmcp on Wed Feb 07, 2007 at 11:35:03 AM PST

      [ Parent ]

      •  Flat needs to be flat to get real traction (0+ / 0-)

        My vision of flat tax is X% of every dollar you have this year that you didn't have last year, no matter how you get it or what form it takes.  No deductions/exemptions with the exception of perhaps no tax for earnings up to 150% of the poverty level.

        This would also give everyone a stake in arguements about tax rates and make the debate cleaner.  Issues could be framed as we can have Program A, B and C at tax rate x or Program A, B, C and D at tax rate y.  

        Of course that would be too easy :)

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