Tax reform

taxes

taxes (Photo credit: 401K)

Tax reform will be enacted someday. At this point, I would like to submit a modest proposal. I believe that great concentrations of wealth are destructive to democracy and that the progressive income tax is the fairest tax of them all. Therefore I oppose a flat tax and the elimination of the inheritance (death) tax. However, I am willing to compromise if the GOP will settle for either the flat tax or the retention of the  inheritance tax, but not both the flat tax and the elimination of the inheritance tax.

If GOP lawmakers insist on a flat tax, then I propose that the inheritance tax be set at 100% above $1 million. We support a level playing field and this would ensure one, by eliminating inherited wealth. The $1 million could be split among the heirs any way the deceased chose. There would be no escaping the inheritance by setting up charitable foundations. So either a progressive income tax to fund government or a confiscation of wealth upon death to eliminate great concentrations of wealth and preserve our democracy. We must have one or the other tax. Let the GOP choose which they prefer.

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2 thoughts on “Tax reform

  1. A flat tax? It sure does sound fair: Everyone pays the same tax rate. It takes just a little bit of thinking to figure out it does not work out so fairly in practice. I guess that’s what they are counting on. It is easy to say a flat tax is a good idea. Explaining how it is a scam takes many more words. Some of those words, including the Seinfeld haircut analogy can be found at this post: http://www.ragingwisdom.com/?p=473

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