gmallast Wrote:
Oct 30, 2012 4:29 AM
Let's get one thing straight. Tax the poor, you tax the poor. Tax the rich, you tax the poor. All taxes are regressive. All taxes fall most heavily on t hose who can least afford them. This is because real wealth, what Adam Smith called "the necessaries and conveniencies of life" come from production and taxes discourage production. This means the poor get lower real wages, higher real prices, and fewer job opportunities. Thomas Jefferson boasted in his Second Inaugural Address that taxes ran to less than 3% and most were indirect taxes so the average American could go his whole life without ever seeing a tax collector. Now even he poorest pay over 30%. One year my taxes came to over 300% of a very meager income.