Back at you...twit...The flat tax myth
Someone with $20 million in taxable income pays nearly $7 million in taxes under the current rate structure, with its 35% top rate. Keeping in mind, virtually no one pays taxes at the top rate.(Mitt Romney or Bill Gates or Warren Buffet are at 13 to 17 %). Replace that with a 9% tax (where in the world did I get that idea?:) and it's below $1.8 million.
Now lets see what happens down the income scale, it depends fundamentally on the size of the exemption. Take a married couple with two children and a modest $50,000 gross income. Their taxable income (after the standard deduction and personal exemptions) is $23,600, leading to an income tax bill of about $2,700. Under a 10% flat tax with no exemption it would leave that family owing the tax collector a whopping $5,000. You get the idea!?
Advocates of the flat tax, or of regressive tax, often argue that it's unfair that 47% of American households pay no federal income tax at all. But is it really unfair? These alleged "freeloaders" don't get off the taxpaying hook at all; they pay payroll taxes, sales taxes and many other local taxes. The income tax and the estate tax are the only two progressive elements in our tax system. If you take away progressivity precious little remains. So the next time you hear the wingnuz charge of "class warfare," ask yourself which class is waging war on whichand which class is winning!!
Here is one for you my Oakland Heights gay pride leader of the demise of Prop 8 friend...Obumble's agenda of government subsistence....at taxpayer expense...Barry's green energy plan in process...I know you are special so fyi, que into the parts about with generous federal and state tax rebates and government must intervene with tax breaks parts...just curious, how many lower tax rate people can offord these great gas saving vehicles? Any idea?
The average price paid for a gasoline-powered 2013 Ford Focus ranges from $16,500 to $24,176. While the average price paid for a 2013 Ford Focus Electric is $39,020.
Regarding the range issue, Lewis said - in a May 30 blog he wrote about the subject - "Except for the Tesla Model S, with an EPA-estimated range of 265 miles, most battery-electric vehicles (BEVs) have EPA-estimated ranges of 62 to 99.8 miles although motorists may go farther under actual driving conditions, Edmunds.Com reports. These range limitations diminish the utility and, thus, value of BEVs for many consumers, and may induce 'range anxiety' fear of being stranded between where you are and where you have to go. The Tesla Model S has an impressive range but, with a manufacturer's recommended sale price of $69,900, most households cannot afford to buy one even with generous federal and state tax rebates."
"Limited range and dramatically longer refueling time diminishes the utility and, thus, the value of electric vehicles for many consumers," Lewis emphasized. "In short, you pay more and get less for your money at least in terms of range and convenience."
He noted that EV proponents often claim that "the barrier to consumer acceptance is a chicken-egg problem." They proffer that more people would buy them if there were a network of charging stations - and companies would build them if more people owned EVs.
"Therefore, they argue, government must intervene with tax breaks and other subsidies to overcome these market 'barriers,' he said.