It’s funny that while the ‘right’ claims to believe in a “Flat Tax” or a “Fair Tax” … they don’t fully participate in the existing flat and fair tax. Once their income reaches some ceiling ($110,000 ?) they’re exempted. How fair is that?
I’m feeling more and more ambivalent about the issue of a general tax on the rich. And more and more committed to completely removing the cap on Social Security Payroll taxes. In fact – Extending the Social Security tax to ALL income (including but not limited to investment income) … My problem with making the Rich contribute more to the General Fund is that these days it goes mostly to Military expenditures and our ever expanding war — and NOT to the stuff that could make our lives easier here in the good old USA. Which is exactly what we get with Social Security and Medicare.
With all the exemptions built into, that Buffet thing leaves me cold.