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When the Rich/Wealthy pay lower tax rates or if they paid a flat tax would the Rich still pay more money in ta?

  • When the Rich/Wealthy pay lower tax rates or if they paid a flat tax would the Rich still pay more money in taxes when the rich still pay more money in taxes since there will be more tax revenue because the economy will grow also 10% of a million dollars is more then 10% of hundred dollars and the Rich will have less reason to try to find tax loopholes and or tax shelters in other words the flat tax is progressive ? A Brief Guide to the Flat TaxBy Daniel Mitchell, Ph.D. July 7, 2005 Frequently Asked Questions Q: Should the rich pay more? A: Under a flat tax, the rich do pay more than the poor. A wealthy taxpayer with 100 times more taxable income than his neighbor will pay 100 times more in taxes. However, a flat tax does not impose special penalties on those who contribute the most to the nation's prosperity by subjecting them to punitive and discriminatory tax rates. For those who think the "rich" should pay a higher percentage of their income, the generous family allowance effectively creates a modest level of "progressivity." For instance, a family with an annual income of $20,000 faces a tax rate of zero. Wealthy taxpayers also benefit from the family allowance, but the effective tax rate on an income of $1 million will be only a tiny fraction below the statutory tax rate. This approach is much fairer than the current system, which penalizes investors, entrepreneurs, and others who create wealth for the American economy while simultaneously providing myriad deductions, credits, exemptions, and other preferences that are much more likely to be exploited by upper-income taxpayers. The flat tax eliminates these special-interest loopholes, ensuring that the rich play by the same rules as other taxpayers. http://www.heritage.org/research/rep...o-the-flat-tax

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    I don't know .... But Righties are whining about President Obama's Tax Cut for the MIddle Class .... saying there's NO PROOF that this tax cut will help the economy. Those are Bachmann's words exactly. Interesting - since there's NO PROOF that the Bush Tax Cuts helped the economy. In fact, those tax cuts contributed to a MASSIVE DEFICIT ..... A Deficit that the Tea Party Geezers never seemed to bother with .... until a man named Barack Hussein Obama was elected President. And yet .... the Righties are WHINING to high heaven ... that we all need to protect the Wealthy from having to pay taxes. Hmmmmmm ..... Interesting. .

Joe Heaton at Yahoo! Answers Visit the source

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No, government wants too much. If you want to make more money go to college and get a good job.

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I agree the tax rates should be lowered across the board. The message behind the liberal left is to punish those people who are productive and reward those people who have become lazy or do next to nothing. The Obama regime with the left has brainwashed kids, bigger kids, and college kids who have been lied to about where money comes from. The rich rhetoric is that they are lazy and do nothing to make this country great and that we have become powerful by stealing from the rest of the world. That is a bunch a garbage that we should throw out in the trash along side those liberals who preach it in the class rooms of America. The fact is that lower taxes generate more money for the government because it stimulates the economy where more people are working and buying goods that are taxable.

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