Those who doubt the theory of income inequality were hopefully listening in the last debate. Donald Trump proudly told the audience, "I have not paid taxes in 15 years." He in fact implied how stupid we are to think the rich would ever pay taxes to the Federal Government.
The progressive tax system is far from progressive. For years, it has transitioned to a tax system that benefits the rich. The middle class pays the bulk of taxes in our country based on the percentage of income versus taxes paid to the federal and state governments. The same can be said for fee for services charged by all branches of government.
Bernie Sanders led the charge this year regarding income inequality. The system of collecting revenue simply does not work as a progressive system. At this point, we would be better off with a flat tax. It would be better to collect 14% of taxes versus a system in which the rich do not pay at all.
The barrier to passing such a system of fairness is ironically, those who pay the most in taxes. There is a disconnect regarding their perception that the rich pay their fair share in taxes. Clearly, after watching the debate, nothing can be further from the truth.
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