Denise Evans: > My father's wife last year was all up in arms last > April about the "double taxation" issue... > Buffett's blathering is a lot of pernicious nonsense.
What's needed is tax reform - everyone should pay a flat tax, if any. I'm opposed to all forms of income tax - it's my money. If the U.S. government cut the spending, most individuals would'nt have to pay very much income tax. Why not tax billionairs 50% or $75? Don't forget that most of 'the rich' are couples making over $250,000! According to the U.S. Census Bureau data from the National Data Book 2010 Statistical Abstract, District of Columbia, the U.S. Capital, is at the top 15 wealthiest areas on the percentage of households. You think 'taxing the rich' in Washinton D.C. is going to create more jobs and balance the federal budget? Come on - let's be a little realistic! Obama's plan is a non-starter and it's NOT going to create more jobs. Recent studies have confirmed that approximately 49% of Americans pay NO Federal taxes at all. You can't cut taxes on a class that's not taxed! The higher the income taxes, the less tax is paid; lower the income tax, the more tax revenue is actually collected.
