Super rich lowest taxes
Super rich lowest taxes
Out of context: Reply #12
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- ukit0
A flat tax sounds nice in principle but would be financially suicidal. Has it ever been tried before? How do you finance a country with a flat tax?
We do know that a progressive tax works in a capitalist society. Look back at 50s and 60s era America, rich paid 90% on their earnings over a certain amount and we always had balanced budgets and everyone could afford a home and a nice retirement. It was when politicians listened to their rich buddies and started lowering tax rates down to 30% for the rich during the 80s that the country started running huge deficits.