From: Harvey Newstrom (mail@HarveyNewstrom.com)
Date: Mon Jul 01 2002 - 10:50:01 MDT
On Monday, July 1, 2002, at 10:18 am, Brian D Williams wrote:
> I also favor revamping the current tax code to a flat tax and
> eliminating all redistribute-the-wealth schemes. (like the "earned
> income tax credit") Lets say 10% for starters, so someone who
> makes $100,000 a year pays $10,000 vs someone who makes $10,000 a
> year and pays $1000.
>
> Under the current highly inequitable system the top 5% of wage
> earners pay 50% of all taxes.
That's because the top 5% of wage earners get more than 50% of all
wages. If we go to a flat tax, they will end up paying more. While
someone who makes $100,000 a year pays $10,000 in taxes, the CEO's
making $10 million a year will have to pay $1 million in taxes per year.
I'm all for it!
-- Harvey Newstrom, CISSP <www.HarveyNewstrom.com> Principal Security Consultant <www.Newstaff.com>
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