Quote Originally Posted by Hlleonard View Post
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I don't believe we can ever attain anything called fair in the taxing process and still have the country we have built in the last few hundred years... The rich pay the lions share of the tax burden but to say them paying 15% of their income in taxes while the middle class pays a rate somewhere above that and calling that unfair to the rich is simply wrong.
That is simply not true. There are no people in the highest brackets that pay only 15% of their earned income. What you are referring to is a 15% tax rate of dividend income which is entirely different. That 15% is actually a double tax, which has already been taxed once at the corporate rate. So any dividend income has been taxed at a corporate rate of somewhere between 15-35%, then taxed again with an additional 15% for the individual.

Do we really want to discourage investment in this countries economy? If we do, it will slow the economy further, which in turn results in less tax revenue. Individuals which take risk and invest in corporations would dry up dramatically if things like dividends and capital gains are viewed and taxed the same as guaranteed earned incomes.

I know saying the rich only pay 15% makes for a good soundbite but it is not an honest argument. What next, tax free bonds? Should we do away with those as well? Using your logic tax free bonds is the most unfair of all?