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The Water Cooler
General Discussion
The Buffett Rule, 6/100ths of one percent.
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<blockquote data-quote="soonerwings" data-source="post: 1754389" data-attributes="member: 8035"><p>Further research (wikipedia) has been inconclusive. The article on payroll taxes lists income taxes as a type while the article on income taxes lists payroll taxes as a type. </p><p></p><p>One argument in the FICA article points out that some people claim that it isn't a tax at all since it's tied to a benefit. I'm not sure I buy this argument just yet as all taxes are supposed to be for public benefit. I know....stop laughing.</p><p></p><p>The complicated mess that is our tax code blatantly violates the "transparency" criteria associated with a good tax system. Wait a sec...it violates the "efficient" and "fair" criteria too. In summation, it violates 3 of the 4 commonly held criteria that are necessary for a good tax system.</p><p></p><p>Yikes.</p></blockquote><p></p>
[QUOTE="soonerwings, post: 1754389, member: 8035"] Further research (wikipedia) has been inconclusive. The article on payroll taxes lists income taxes as a type while the article on income taxes lists payroll taxes as a type. One argument in the FICA article points out that some people claim that it isn't a tax at all since it's tied to a benefit. I'm not sure I buy this argument just yet as all taxes are supposed to be for public benefit. I know....stop laughing. The complicated mess that is our tax code blatantly violates the "transparency" criteria associated with a good tax system. Wait a sec...it violates the "efficient" and "fair" criteria too. In summation, it violates 3 of the 4 commonly held criteria that are necessary for a good tax system. Yikes. [/QUOTE]
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The Buffett Rule, 6/100ths of one percent.
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