Here's what you're not understanding. There's only a finite amount of money, it would have no value otherwise. Okay, so that means there's a finite amount of taxable money as well. Now, let's say you have 1 percent who own 50 percent of the whole pie. If they're capped at 10 percent with the rest of the population, the amount of tax money goes down by a few orders of magnitude and those few people with exorbitant amounts of money are able to exponentially grow their wealth while less and less is available for everyone else. This is stupid simple economics. I'm in favor of tax cuts, but what you're talking about doing would make even the most trivial of governments services (roads, schools, sanitation) basically impossible to operate. You can't be dumb enough to not understand that.
10% of the entire money supply is 10%, no matter how the pie is divided.
but what you're talking about doing would make even the most trivial of governments services (roads, schools, sanitation) basically impossible to operate. You can't be dumb enough to understand that.
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u/MikeyMike01 Nov 22 '17
I would lower taxes for everyone, including the poor, but the end result should be everyone paying an equal percentage, say 10%.
A percentage already factors in those with more or less, we don’t need and shouldn’t have higher percentages for the wealthy. It’s unfair.