MYRTLE BEACH, SC (WMBF) - Should the wealthy pay more taxes? A recent poll says more than 50 percent of respondents support President Barack Obama's proposal to let tax breaks lapse for those earning more than $250,000 annually.
Consider This: Why should people who have worked to grow their income have to pay more in taxes? It's as if we are punishing people for being successful. Instead why not have the same tax rate - say 20% - for everyone; a flat tax. Then, institute a use tax so that people pay more taxes based on their consumption. If someone buys a $10,000 car they pay fewer taxes than someone who buys a $50,000 car. If someone decides to buy a boat, they pay a higher tax rate on that boat.
Having a progressive system that requires higher wage earners to pay a higher tax rate is not the answer. A flat tax combined with a use tax is less confusing and could possibly lead to the elimination of the IRS. That alone is reason to make it happen.