Happy Tax Day!!! Aren't you happy?

[Lew Zealand]

Filliam H. Muffman wrote:
You, minimum wage earner, make $15,000 a year, pay 9% tax, you have $13,650 left. Housing, food, transportation, medical cost $13,000. Net savings is $650. Your tax bill is 207% of your savings.

You, as an executive, make $250,000 a year, pay 9% tax, you have 227,500 left. Housing, food, transportation, medical cost $80,000. Net savings is $147,500. Your tax bill is 15% of your savings.

If the flat tax was 15%, the minimum wage person wouldn't be able to save anything but the executive would still be able to save $132,500. Progressive/Indexed with no loopholes is the fairest to people making less. The flat tax sounds good to 'middle class' or those who aspire to that because they will pay a little less. That's why billionaires keep pushing the flawed idea. Six Waltons have more wealth than the bottom 30% of Americans.

Thanks Fil, that was concise enough that I may actually remember it!