Any comments about Mr Madoff?

[tw]

Originally Posted by classicman

Look at it if they both paid 15%.

Do you think its fair to take almost 40% of someones income on federal taxes,

Which is why the people who pay a higher percentage - the average income earning - do not pay 40%.

A flat tax does not become fair until the numbers are more like 23%. Then the rich will pay more taxes.

40% is the myth classicman keeps promoting. A 15% flat tax is only another mythical tax cut as defined by Buffet. Since the only tax cut also cuts spending, then a 15% flat tax only makes more recessions - as demonstrated repeatedly by history.

If the flat tax required the rich to pay 23%, then the rich suffer a tax increase. Flat tax is not the problem. Problem is a mythical and economically destructive number - 15%. A number not possible due to unpaid bills such as $1trillion for "Mission Accomplished".