Sunday, May 03, 2009

EVERYONE SHOULD PAY INCOME TAXES

It's bad for our democracy to exempt half the country.

A very small number of taxpayers -- the 10% of the country that makes more than $92,400 a year -- pay 72.4% of the nation's income taxes.

Given the state of the economy and trillion-dollar deficits projected as far as the eye can see, we need to return to an era of more conservative, fiscal discipline.

Congress should start by refusing to go along with Mr. Obama's promise to cut taxes for 95% of the country. With the government running an almost $2 trillion deficit, no one should have their taxes cut -- no one. Given the size of the deficit, fiscal responsibility demands nothing less.

I agree – taxes should be paid by every citizen. Rates should go up or down, preferably down, for everyone -- no more dividing the country by lowering taxes for some or raising them only for others. A revenue system whose purpose is to pay the government's bills should apply to one and all.

[Update] See the post on Progressive Taxation (above) for why.

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