Tuesday, February 12, 2008

Taxation and Representation

There is nothing new about hating taxes. But I think there is something that can be said about our tax code and it inequities.Warren Buffet, third richest man in the world commissioned a study on taxation at his firm.

The results are astounding. Mr. Buffet makes $46 million a year in taxable income and claims he has no tax shelters yet his tax rate was 17.7% while his receptionist's was 30%. I know its popular to claim that its liberal democrats that want to raise everyone's taxes. But in 7 years of a Republican administration the so called "Bush Tax Cuts" have done one thing kept more money in very rich people's hands and given no more to middle class earners.

I think its time to revive Steve Forbes old plan of a flat tax of 17% across the board. Let all Americans bear an equal load.

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