….. or so says Hillary Clinton.
[i]”The rich are not paying their fair share (of taxes) ….. whether it’s individual, corporate or whatever (form of) taxation”[/i]
– Hillary Clinton to an audience at the Brookings Institution
Full quote and context:
http://www.politico.com/blogs/bensmith/0510/Clinton_The_rich_are_not_paying_their_fair_share.html
Questions:
Define [i]the rich[/i]?
At what percentage should corporations be taxed?
Do you think the cost of corporate taxes are passed onto the consumer, or absorbed by corporate officers, or applied to (deducted from) corporate profits, or something else?
At what percentage should capital gains be taxed?
What percentage of total taxes collected should be paid by:
– the top 5 percent of wage earners pay?
– the top 10 percent of wage earners pay?
– the top 50 percent of wage earners pay?
– the bottom 50 percent of wage earners pay?
What is the maximum percentage a person’s income should be subjected to taxation?
Should income be taxed at all? Why or why not?
Would you favor a consumption tax instead of an income tax?
Would you favor a consumption tax in addition to an income tax?
Should Social Security taxes be increased? If yes, on whom and by how much?
Should Medicare taxes be increased? If yes, on whom and by how much?
Should we pass on to future generations (our children and grandchildren) a system (a government) that taxes them more than it taxed us so it can pay for the promises made to us?
Would you be willing to pass-on your personal debt to your children and grandchildren?
Are you willing to pass-on your government debt to your children and grandchildren?
That’s a good question to be the last.
All questions asked with sincerity. Please answer as such. Moreover, feel free to ask your own. In due time, I’ll answer all questions myself.
Disclaimers:
– I do not believe that ALL taxes should be abolished. I believe taxes are a vital element to maintaining a free society.
– I believe in the Laffer Curve.
http://www.heritage.org/Research/Reports/2004/06/The-Laffer-Curve-Past-Present-and-Future
However, I’m not an absolutist on suggesting that either increased or decreased tax rates will increase (or reduce) tax revenue. For example, if the tax rate was zero percent, the revenue collected would be zero. If the tax rate was one hundred percent, the revenue collected would be zero. Therefore, the rate at which taxes are accessed and will generate the greatest amount of revenue is, at best, a percentage that’s on a sliding scale.
Last question(s): If you agree with my [i]sliding scale[/i] suggestion, what’s the best way to zero-in on the optimal rate?
If you don’t agree with it, why not?