by anonlooker » Mon Oct 24, 2011 12:01 pm
I'm pressed for time so this is a bit of a rush job, but you'll get the idea.
A graduated tax inversely proportional to income.
The rich should be taxed the least, if at all. Since they have the money and knowledge to build companies, thereby creating more jobs, and the more jobs they create the more money they make, and the more citizens are paying taxes, win win all the way around.
The upper mids are probably college grads (or otherwise educated) and most likely to continue their upward mobility and eventually become employers, thus joining the rich in driving the economic success of the country, so they should pay some nominal tax, after deductions for higher education and private schools, household services like gardening and maids, first class travel and 5 star hotels, and payments on anything shiny, new and less than two years old. This will give them incentive to travel a lot, buy bigger properties, and replace their luxury cars on a regular basis, which in turn ensures more jobs at the lower tax levels.
The lower mids are working their way up, but still too dependent on the government. Tax them less than the poor, since they probably have insurance, and sustain residential rental housing markets, buy cheap cars and appliances, and eat fast food, thus keeping low level workers employed.
Tax the lower income brackets most heavily. They use a disproportionate amount of government services and should have to carry that burden. This should also give them incentive to work harder, learn more, or do whatever it takes to earn more money.
Lastly, a 100% tax on illegal immigrants, who are stealing jobs from legal citizens. At this tax rate, one would hope these folks will eventually realize there is no free lunch, and head back to wherever they came from.
In short order the rich will invest heavily in becoming richer, which in turn employs more people at all income levels, which in turn creates a windfall of tax revenues and thus reduces the deficit. Why is this so hard to understand?
Don't worry about tomorrow. You did that yesterday.