I would like to see the libs get their dream come true and have "the rich" be taxed equitably. They would **** their pants screaming and crying. "the rich" already pay a greater % of their income in taxes than do any other group. what the hell is "equitable" about that?
I just wish for once the libtards would be honest and admit that what they really want is for "the rich" to be taxed punitively
do the math. see for yourself
If I made a million dollars a year, I would gladly pay CPA 100,000 of it to hide most of the other 900,000.
Like I say, common sense.
Anyway, you would be hard pressed to find many countries that don't have a progressive tax. Progressive taxes are very common and not new. And compared to some of the rates in our past, 39% is hardly oppressive.
Top US Marginal Income Tax Rates, 1913--2003 (TruthAndPolitics.org)
AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.
let's let the revenues be $1,000 as you have expressed
and recognize that $2,000 will be spent
unless this is an infrequent, short term abberation, then the entity is destined for its demise due to the recurring deficit spending
but a smart business owner shows up and recognizes the $1,000 in revenues has resulted because the market price of $2,000 has not been charged for the goods/services provided. and now turns the company around by charging the true value that is due
$2,000 revenues results, offset by the same $2,000 expenses. the business remains solvent
in this example, the new, savvy business owner recognized that there was no need to discount the billionaire buyers because he was in no position to do so
again, thanks for your example