Who’s Rich enough to be taxed?
I was listening to talk radio the other day about how McCain and Obama were debating the “rich” mark for tax rates, in regards to were you draw the line for determining who deserves a higher tax rate. Apparently Obama said 250K a year was the line, and McCain replied with a sarcastic remark about “five million” being rich. Interestingly enough, Obama would latter criticize McCain for having 7 houses (including investment properties), shortly after he himself had returned from an expensive vacation in Hawaii, and made about four million himself the year before. But enough of that… What is rich? Where do we draw the line?
First of all let me say, I’m not in favor of a “Federal” income tax, but I also recognize that the alternatives in today’s world, with today’s financial mentality, probably aren’t much better. Personally I think the 16th & 17th amendments have some serious conflicts of interest with Article 1, section 9, clauses 4 & 5 of the US Constitution; and possibly the 9th and 10th amendments as well. Not to mention how the IRS’s poor sense of due process violates the 4th, 5th and 6th amendments, but that’s another subject.
When you start talking about drawing a line on who’s rich and who’s not, I think you start to pinpoint the major problem with our income tax laws today. Personally I would look to the bible for an answer. Anyone who’s read the bible knows that God expects us to Tithe, which by definition means one tenth. God essentially puts us all into the exact same “tax bracket”, if you can call it that. Why can’t our government do the same? Sure we all want our standard deduction, and other tax saving deductions, but when you get down to how much your “Taxable Income” is (after all the deductions) why can’t we all pay the same percentage, or in other words, have everyone be in the same tax bracket? That I think is the only fair and easy way to settle the matter.
– Posted by Seth Hollist