Reply #6: So far most DUers appear to oppose taxing wealth. [View All]

Methinks they got no farther than the word "flat". First, if they had they'd see that this advocates three tax brackets. "Flat" means one tax bracket. This is obviously not a flat tax.

The big thing is the tax on wealth. I would LOVE to see investment income taxed the same as earned income. The argument against taxing investment income, "people will invest less if they have to pay taxes on their investment," is just as stupid as the argument against taxing earned income, "people will work less if they have to pay taxes on their income". If there is money to be made, people are going to make it.

The really odd thing about rightwing economists is that they see income taxes as a disincentive to work or invest, but they don't see sales taxes as a disincentive to purchase. EVERYONE cuts spending on occasion. Almost NOBODY purposefully cuts their income.

Yet, 50% of Americans believe this idiotic logic. It boggles the mind.