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Political Discussion
Reply to "Is 39% tax rate for wealthy really fair?"
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[quote=Anonymous]A better way is to continue to allow loopholes, tax shelters, etc, but to put a hard bottom below which your effective tax rate cannot drop. You can run a tiered structure like a marginal tax rate. If you make 0-$50K, then you can pay no taxes. $50-100K you cannot drop below 15%, $100-250K you cannot drop below 20%, over $250K you cannot drop below 25% or whatever levels you want. Then you won't have these multi-millionaires with 7-10 figure annual incomes paying 5-15% taxes. Then you wouldn't worry so much about the marginal tax rate and tax shelters, etc. And everyone would know that all were paying "their fair share."[/quote]
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