There's a certain faction within the Democratic Party (like nearly the whole party), that seem to feel Americans, especially those of means, are undertaxed. They argue that our tax code has become terribly unprogressive, and as everyone knows, the best things in life are progressive.
But, there's a simple method to decrease this regressivity, and increase the progressivity of the current system without altering a single line of tax code.
My simple suggestion is that all good Democrats of means should fire all their tax accountants. Pay all the taxes you owe, pay more than you owe, don't claim a single deduction, don't go searching for a single loophole, don't duck your share of the burden imposed by a caring and progressive government that yearns to provide all things to all people.
Given the amount of free monies they have to throw at a variety of candidates, I would imagine many of these folks could easily afford to pay the full tax rate at their income level without taking any deductions. Send it with a note to the IRS letting them know that the IRS should keep the excess payment and not seek to send a refund check.
Furthermore, as many of these progressive politicians are also campaigning for easing the income cap on Social Security payments, I would humbly suggest that they also voluntarily pay into that wonderful system 15.3% of all their income, with no cap, whether they make $98,000 a year, or $980,000. I realize that's the rate for the self-employed, and it's combined SS (12.4% capped at $97,500) and Medicare (2.9%, currently uncapped), but as both funding retirees and providing health care to all are laudable goals, I think any reasonably progressive person shouldn't flinch at paying the full rate that self employed entrepreneurs are currently expected to pay. Right now the cap is at $97,500, but I think every Senator (and former Senator) running in the Democratic primary who has taken a stand on this issue has pledged to work towards raising that cap (Hillary was a bit cagey with her answer, only Gov. Richardson rejected the idea). Why wait for legislation? Pay that money now.
The truly progressive thing to do would be to cut that check for the full 15.3% and enjoy the heartwarming feeling of knowing that you selflessly contributed to extending the solvency of that program into the latter decades of the 21st century. Couple that with not taking a single deduction with a top tax rate of 35% (on incomes above $336,551 for individuals, or joint filing couples), and these folks can happily cut a check for 50.3% of every dollar they take in. Given the number of wealthy Democrats in this nation, this simple measure by the committed, wealthy progressive would theoretically greatly increase the government's coffers.
There's nothing stopping these folks from leading by example, until they do so, I won't hear a thing they're saying on this issue.
1 comment:
fee, fi fo, fum, I smell the blood of a republican...
I think your flogging a dead horse.
Here's a little musing about congress I did a while back on my site..you might enjoy it..
POLITICIANS…(mainly congress)
God you have got to love them…
On Sept 12, they all did sing and pray, and said we’re united as one..On Sept 13, it was bend over so I can fk you in the bum…
Man what a lot,, nothing but backstabbing, liars, cheats, thieves,adulterers, double-dealers, snakeoil salesmen, etc etc…
Never will I shake the hand of a politician,, cause while he’s
shaking my hand he’s taking my wallet, my shirt and tie, my
jacket, my pants, my socks and shoes and even my underwear,
all while wearing a double faced grin….
My solution?? Take them out back and shoot em…..
Let congress sit empty for a while…How many more laws do we need anyway??...in someway or another they have got a law about everything,, how I drive, sleep, work, relax, park, don’t park, what kinds of clothing I can wear, housing, beaches, food,
entertainment, roads, yard work, vacations, smoking, drinking, seatbelts, helmets, what I can do inside, what I can do outside, medicines, hospitals, Medicare, social security, how I retire, how I die, how I’m born and how I’m
laid to rest….I think they covered just about everything,, and if they haven’t got a law about something,, I’m sure their working on it now and we’ll have it soon….
God you have got to love them…boy I sure would like to vote myself a raise and a pension every year,, and hey,, I don’t even have to vote on it,, it’s automatic…
I just love watching c-span,, there he is talking away at the podium,, describing his views about this law or that law… the camera clearly shows him,, reading
from his papers,, then the camera pans and tilts to let us all see.. that our marbled halls are empty…he’s taking into thin air…where the hell is all of our elected representatives??
God you have got to love them…what a much of pious self-serving a..holes,,
I guess the good thing is,, it just shows what a great country we live in,, because what other country could be so strong,, with a bunch of morons leading the way………
ta ta............
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