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Reply to "Do you think taxes will increase to pay for the nation's debt?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]A flat income tax would solve the problem. Everyone pays 25%. No credits, no deductions, no loopholes, no anything. Disadvantaged groups already make out on the receiving end, so things are still skewed to helping those in need. Easy peasy. [/quote] Too regressive. Maybe over a certain threshold. [/quote] Not regressive, but fair. The current system allows most of the population to have a free ride on the backs of the rest. "as a share of adjusted gross income (AGI), the top half of income earners paid 97.1 percent of federal income taxes. The top 1 percent earned 22.4 percent of total income and paid 40.4 percent of all the income taxes. The top 10 percent earned 49.4 percent of the income and paid 72 percent of the income tax." https://www.cato.org/blog/its-tax-season-five-charts-who-pays-whats-risk 40% of households pay no federal income tax at all. https://taxpolicycenter.org/fiscal-facts/who-will-pay-no-federal-individual-income-tax-2025 Fairness requires everyone to contribute in proportion to their income, neither rewarded for low earnings nor punished for high earnings. [/quote]
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