A US National Health Care System? Message Board

To: John Koligman who wrote (16741)	4/12/2010 9:07:52 PM
From: Tenchusatsu	of 25847

John, > I'm talking about guys making 350M a year and paying 16%. People with that kind of income are rich enough to move their wealth into tax shelters. Warren Buffet, for example, get a significant fraction of his income from tax-free muni bonds. I have no problem with taxing the rewards from sheer speculation, but the tax revenue generated from that is highly unstable, which is the exact opposite of what government needs to run. Nor do I have a problem with a "wealth tax," which would likely mean property taxes. Or a VAT. But here in America, the chief source of revenue for the federal government is the income tax, and that's not likely to go away. The income tax code will continue to be curved to favor "income redistribution," and that will necessarily punish the successful and reward the lazy. Tenchusatsu