Tax reform?
I see that people say that people with more wealth should pay higher taxes. However, having wealth is not the same as income earned. For example, I could have inherited 100,000,000 from Great Aunt Sophie. I can retire, shove all that money under the mattress and live off of it comfortably for the rest of my life, yet NEVER pay taxes on it again. It's not invested so there's no interest coming in. Should the tax law be changed so that it's not necessarily what you're earning, but what you own that's being taxed? I'm just seeing that this is the fundamental difference between the democratic version of taxation (tax the wealthy they can afford it - ie, tax the people who have assets) and the republican idea (tax the money coming in).
Public Comments
- NO, what you own you have already paid taxes on and there are to many taxes already.
- No, taxes should be on income. But I think dividends, inheritances, and capital gains should be included as income and subject to the normal tax rate.
- Abolish the IRS and income tax. A sales tax would be based on what you spend,including those that pay no income tax now
