Professor Bainbridge says CalPundit likes Wesley Clark’s tax plan. I don’t.
The gist of his plan is that if you are a family of four making $50,000.00 or less, you’ll pay no taxes. Your tax burden will be offset by the $1mil earners.
How fair is that? Okay, so those of us who are poor (and yeah, I would pay little if any under Clark’s plan) get to live off the rich. So then what would be the incentive to make money?
I hate to go to supply side economics, but short of government workers, when was the last time the government really put people to work? It’s the rich guy, or the poor guy hoping to be rich, who builds the business and employs the workers. So why punish the economic engine? It’s like putting a speed regulator on the Astin Martin Vanquish (the car I occassionally lust for). So, the car has potential, but can only go 55 mph on the Montana interstate.
I had a friend in law school who favored regressive taxation. Tax the hell out of the poor and they’ll want to become rich.
Instead of taxing the people who drive the country forward, why don’t we go with a sales tax that taxes people who take things out of the economy for use? Seems that would tax the rich the most, but be much fairer.
The country will always have class warfare until we decide to treat everyone fairly and stop social engineering with the tax code.