I don't have CNN, Foxnews, ect. I'm a streamer.
I really wanted everyone's take on this.

@RobertMartin Yes, I know exactly what you were after.

Good point

Maybe it's time for a flat tax, everyone pays say 15% of their income.

@RobertMartin A flat tax would be even more regressive than what we have now.

@RobertMartin @LovinLarge That might be a starting point. We supposedly have that in the form of the Alternative Minimum Tax, but as always, that has been corrupted too. The other MAJOR problem is that allowed extreme wealth corrupts the political system. We need a wealth tax as well; 15% per year on wealth over 100 million would be eminently appropriate.

@racocn8 the tax on the wealthy shouldn't be extreme, it may be viewed by some as a punishment for hard work and becoming successful.

@LovinLarge any form of income tax can be cheated. Rich people can hide money by way of money laundering, pretty much what is done now. Income tax is an unreliable form of revenue. When the economy is bad, there usually are fewer jobs resulting in less tax revenues.

@RobertMartin Deflect all you want, flat taxes will always be regressive. It's time to make America great again by taxing the wealthy like we used to do.

[taxfoundation.org]

@LovinLarge just curious, how would a flat tax be regressive?

@RobertMartin Flat taxes are regressive because they have a greater impact on those with lower incomes.

@LovinLarge I suspect he knows that.

@LovinLarge, @RobertMartin I'll play. Rich people don't have "income." They get dividends from stocks and assets. THAT tax is significantly less than a flat tax would be so they still won't claim income.