Only if that’s how the system is set up. Tax everything sold by a certain percent. Tax businesses on their stock value. Tax income and net wealth over a certain amount. There are ways to enable taxes that protect the poor. But, to be fair, I am heavily in favor of a strong social security net. I want the weak, poor and unhealthy to know where they will be sleeping tonight and eating tomorrow.
I agree in principle, but sales taxes are a bad idea, because they are regressive. That means, because poor people spend a larger proportion if their income, their income is taxed (through sales taxes) at a higher rate than the income of more wealthy people.
What would actually be a better idea is to have a higher income tax for the higher tax brackets, but also tax wealth and inheritance much more, that would be things like stocks, real estate etc, which the wealthy use to borrow against to avoid taxes (because they don’t pay taxes on the borrowed money).
Only if that’s how the system is set up. Tax everything sold by a certain percent. Tax businesses on their stock value. Tax income and net wealth over a certain amount. There are ways to enable taxes that protect the poor. But, to be fair, I am heavily in favor of a strong social security net. I want the weak, poor and unhealthy to know where they will be sleeping tonight and eating tomorrow.
I agree in principle, but sales taxes are a bad idea, because they are regressive. That means, because poor people spend a larger proportion if their income, their income is taxed (through sales taxes) at a higher rate than the income of more wealthy people.
What would actually be a better idea is to have a higher income tax for the higher tax brackets, but also tax wealth and inheritance much more, that would be things like stocks, real estate etc, which the wealthy use to borrow against to avoid taxes (because they don’t pay taxes on the borrowed money).