What's going on in London?

[Crazed Rabbit]

“Consider this: all the people not curently working because their place of work is wrecked, yeah those thugs REALLY helped the poor.”
So, you loose your job so you are a thug. Interesting.

No, you're (the anarchist) a thug because you break other people's property for your own pleasure.

In the US & Canada - and I believe also in the UK, the top 1% income earners actually pay little to no income tax. Corporate taxes also usually hit mostly small-medium size businesses, as again, the top 1% corporations often pay very little or no taxes (I just saw a report stating that GE - reportedly the largest company in the US - paid no income tax in the US in the last few years, along with a list of other large and profitable companies)

Why we should have a flat tax and no exemptions.

CR

[Jaguara]

Why we should have a flat tax and no exemptions.

I wish it were so as well. Imagine how simple your tax filings would be...and much more fair. Ah but there is the kicker...the top 1% don't want a fair system, and what about the 65 billion dollar tax preparation industry? What about all those jobs!!! (Talk about a useless "industry", if you ask me)

Still, we can dream.

[lars573]

Why we should have a flat tax and no exemptions.

CR

You realize that your mythic flat tax no exeption cure all will just hammer the poor hard for a modest gain in revenue from the high earners.

[Jaguara]

You realize that your mythic flat tax no exeption cure all will just hammer the poor hard for a modest gain in revenue from the high earners.

Usually when talking about this sort of thing, there are other measures in place to help the poor. Just like with the GST, they came out with the GST rebate for low income households.

The main thing here would be simplification of the tax system, which would save billions of dollars - both to taxpayers who have been paying to have their taxes done by professionals and also for Governments which have huge audit teams to wade through the selected returns.

The problem is that the ultra-rich will still avoid paying taxes, as they will just legally move to some country which will not tax them as much (even if they never actually leave the US/Canada).

So the point is, it is essentially an idealist's dream. Still, even then, I think it is better than the convoluted, tangled mess we have right now.

[Brenus]

“Or maybe start defending your own nation and stop spending money on stupid things, oh, like the Royal wedding?” I’ll do that…