Let us start with a bag - lets talk about taxes. I believe that there is a disparity between the truth about rich and the truth about wealth. It is too often portrayed as the incredibly 'rich' who are the source for all that plagues economic progress. There is a direct tie to the rich and the 'fair' share they should pay. It might surprise you the top payroll recipients do not collectively hold much water inside the nation's budget pool. In fact the media likes to call those who own corporate jets those who also make more that $250,000/yr; while this is true - it is intended to create a connection to the top tax bracket individuals with those who have wealth. Does this get to the heart of the purpose and intent of taxes? The article from the UK Daily Mail tries to provide some insight into the quantities that taxation collects.
When I speak of wealth, I am talking about money in the bank and scattered across investments. This money is strictly speaking not subject to taxation, unless the money is moved and a financial transaction is made.
It is my opinion the true intent of the progressive tax structure is to move money away from those people who are successful and give it to those who are less fortunate. Does this achieve the right moral objective? Is it a hand-out or a hand-up? How do you not create a safety net or a life-line by providing assistance that if removed requires huge changes in lifestyle?
I'd like your thoughts...
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