Quote:
Originally Posted by miked
There was an interesting article I read about an IRS study that showed something like 60% of "rich" people underreport their income, and that doesn't even include a lot of these offshore hiding places. Something that people in the middle class are actually "better" about paying their taxes. Sort of defends raising the levels of those over a certain amount since they appear to be cheating more. Not that it matters since I'm not sure what % of tax revenue those different classes account for.
|
This is why the tax rate should be the same for everyone and across all sources of revenue (ie capital gains). The only deduction is for kids.
Of course, making everyone's tax rate 20% would require doing away with our militaristic foreign adventures, which at this point is about as likely as McCain becoming President.