Radical Tax Policies Threaten To Divide Nation Further

Tweet

The Sunday edition (April 27th) of the Janesville Messenger contained their bi-annual tax ritual editorial titled,"Tax policy threatens to divide nation."

JM Editorial Excerpt:
According to a study conducted by Stephen Moore, a senior economics writer for the Wall Street Journal, the top 10 percent of wage earners in the country now pay 68 percent of federal income taxes. The bottom 50 pay just 3 percent.

Oh, boo-hoo-hoo.

When the top 300,000 Americans collectively rake in income equivalent to the bottom 150 million Americans, something is wrong and it has nothing to do with taxes.

But to be fair, the Messenger editorial is about tax policy, and in simple terms we are taxed not as an individual but by the income we earn determined by sliding-scale brackets for the best and fairest of reasons. For instance, if the country produced $5 trillion in annual cash flows and you alone collected 2.5 trillion of it - you are in a bracket that collected 50% of all revenue, you would be required to pay 50% of the goverment's operating costs. It may be 20% percent of 2.5 trillion dollars or it might be 80% percent, whatever the government requires. Granted, I'm looking at supply side only, but this isn't rocket science.

A flat tax is an income-blind tax that would raise the cost of living tremendously to anyone earning less than $200,000.

The Fair Tax or flat tax recently promoted by some GOP presidential candidates including Mike Huckabee actually involves a prebate to ensure no American pays federal taxes on spending up to the poverty level. Is that what poor Americans really want? ....another entitlement? Contrary to what rich people think, the masses don't want a hand-out. They WANT to pay their fair share in taxes providing they're paid their fair share in wages. If you think there is a great divide between the rich and the poor now, you ain’t seen nothing till you see what a flat tax, a two-tier two-America's tax rate or sales only tax would do. Any of them would be devastating.

Drop the phony moniker and implications of the "Fair Tax" plan and endorse the implied simplicity of a Fair Wage doctrine designed to not only pay everyone a living wage, but a taxable one as well.