Wednesday, April 20, 2016

High Income? More Tax!

Most Americans think top earners should pay more tax. Even 46 percent of conservatives believe top incomes are under taxed.


Jim Gust said...

Some confusion over means and ends here. Most Americans oppose death taxes, a fact omitted from the article. So while they want wealth redistributed they don't believe death taxes are the the way to achieve it. Then how?

Similarly, it's easy to want everyone to pay a "fair share." Who could be against that? But how much is "fair?" Why that percentage? What makes that more legitimate than another percentage? Questions not addressed in the linked article.

This article provides more heat than light.

I'll suggest that we put 50% of the income tax burden on just the top 5% of earners. That seems rather unfair to the 5%, but would it at least pass muster as a "fair share?" Because that's the system we already have. But the questions are never asked that way.

JLM said...

JIm Gust raises a good point. I think people oppose the estate tax because they believe people have earned, or at least taken pains to conserve, their wealth. The highest incomes often go to people like hedges and Fortune-500 CEOs who surely haven't "earned" half as much as they make.