Well, I am displeased to hear this, unless of course Obama was directing his attack towards the corporations and not the people. It is sad to say, but in this economic crisis, big coporations making billions of dollars profits, need to stand by their country, and support the failing infra-structure.
It is not by forcing the poor people, who work so hard , but cant afford the legal representation or accounting council to find all the loopholes, that should be targeted. Too often I find myself watching as the poor get poorer and ...well you know how it goes. Britney Spears is making millions, is she paying millions too in tax, or is there a glitzy accountant following her around calculating everything that can be deducted.
I would love to see a flat rate for people (corporations are a different matter) , that way less energy, effort,time and money is invested in making this happen. Think about it, no deductions, no receipts, no time wasted calculating, no time wasted getting documents, or contacting accountants that charge you through the nose to break even. If we had a flat 20% of whatever you did make, poor would not be poorer, then the rich.
They would be even. We would have alot more money in our coffers, because for once the rich would be paying the FULL amount,.....remember no deductions...so from 100 million dollars for one person's gain in a year (Arnold Schwarzenegger) would equal about 20 million for the US! Thats it thats all. No extra wasted money on the government figuring out new ways for people to pay, and have that side lined by another loop hole.
Why not, I ask you....why not? The person making 10$ an hour, does not have to worry about spending extra money to make all the weird calculations, to figure out this and that , and just pay an even 20%, easy! The rich guy, wont have the luxury of avoiding paying anythnig, because now, even with the best accountants, it wont matter....he still pays 20$
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