Tax system needs to be changed
At the present time, some of the people who make the most money pay taxes at a low rate.
One can invest his money and pay only 15 percent in taxes on money made no matter how much he makes, while others can create businesses that provide livelihoods for many and have to pay up to 30 percent on their profits. Is that fair?
The main words from President Obama are to tax the richest more.
Some have accused the President of trying to create class warfare by splitting the rich and middle class into two different camps in preparation of the coming election.
On the other side of the fence, his opponents have gone against any raise in taxation.
They want to balance the budget by removing unfair tax breaks for special industries. They also want to reduce the budget by cutting out earmarks created when lobbyists wine and dine legislators.
So what’s the answer? Obviously we need a comprehensive remake of our tax system.
Whether we continue with income taxes or move to another form of taxation, we need a system that is easier to understand than the present one and can be easily enforced so everyone pays their fair share.
We need leadership in Washington that can produce such a plan and carry it through to passage. We haven’t seen such leadership yet.
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