Han wrote:

"Dave In Houston" wrote in
:

I notice that proponents of this theory [conveniently] never tell
you
that those poor, poor, over-taxed 10% already OWN 70% of the wealth
(or whatever number is in vogue by whatever particular group that
loves to grind this ax) .
Bring on the Flat Tax and maybe we can put this argument to bed.

As I understand it, the flat tax is not a rate of x% applied to every
income, whether $10/year or $10 billion/year, and it should not, IMO!

What would appeal to me is the expiration of all special treatments, and
possibly the imposition of a luxury tax on some set of specified items
(thinking of gas-guzzling hummers).


Do you remember 1992 and the imposition of the "luxury tax" on yachts?
Designed to punish (oops, afford the opportunity give back to the country)
the rich and well-to-do? Net effect? An entire US industry was bankrupted
and moved offshore. Same thing with added tax to luxury automobiles.

These kind of things always have unintended consequences and seldom garner
the funds that their advocates claim.

This class-envy stuff is going to kill the economy. We are already at a
point where 10% of wage earners are paying 60% of all income taxes but only
earn 42% of all income. Now, what is this about not paying their "fair
share"?

Congress is way out of line with special privileges, and the IRS with
their

What are you defining as special privileges?


obfuscation in legalese of good intentions. I could not possibly go and
do my own income taxes now without the experience of the past 37 years.


--
If you're going to be dumb, you better be tough