Monday, May 9, 2011

Why the tax code needs to be changed

What is someone's fair share? Shouldn't everyone pay at least something, since we all do get benefits from government?

A recent CNN Money article highlights the mess that our tax code is. Why 45 percent don't pay anything at all. The top 1 percent pay as much as the bottom 95 percent.

But there is truth that many higher-income people don't pay their fair share. Some of those who didn't pay taxes: About 18,000 were households taking in more than $500,000 -- and of those, 4,000 made more than $1 million.

Wouldn't it be nice to make a million bucks, tax-free?

This is ridiculous. Many deductions do favor the rich. It's about time we all paid, at least something. If you don't have any skin in the game, you're not going to really care.

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