Quote:
Originally Posted by golfing eagles
In addition to the fact that "wealth" is already taxed at least once if not more:
Person A scrimps and saves, makes prudent choices, lives within their means and accumulates some degree of "wealth". Maybe to enjoy retirement, maybe to pass something on to their kids, but in either case have been responsible citizens.
Person B spends every penny they ever earn---has impulse buying, gets sports cars, a house they can't afford, runs up credit cards and saves nothing, relying on social security and the good will of others when they stop working.
So who is rewarded and who is screwed by a "wealth tax"??? Fair???? I don't think so.
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Actually, a sales tax would APPEAR TO BE a fair tax. But, like all flat taxes it in reality punishes the lower wealth people who own almost NOTHING SO must buy clothes, food, school supply and etc. Think about what % of their small income that these necessities represent. (it is HIGH)
..........Now think about what % food and clothes mean to a rich UBER 1% ER. Food and school supplies to them represent about NOTHING as a % of their GIANT incomes.