WHY NOT TAX THE RICH?

SPECIAL POST

We've all heard the arguments; you can't tax the rich any more because the rich are paying most of the taxes already.  Well, I stipulate that as being a fact, that the rich pay most of the taxes.  But, upon closer examination, that is the only part of the premise that is true.  

Let s ask why the rich pay the majority of the taxes.  Since the tax we're discussing is based on income, the answer is that the rich are making most of the money in this country.  Logically, if they are making most of the money, they should pay most of the taxes.  The question now becomes, are they paying their fair share?  Is the proportion of dollar income they pay in taxes comparable to what the middle class pays, (the poor don't pay taxes).  I don't think they are.  

If Joe Middleclass pays $10,000 in taxes on $50,000 gross income, does Mike Richguy pay $1,000,000 in taxes on $5,000,000 in gross income?  I submit to you that Mike is paying far less than the $1,000,000 because he has more write-offs and tax loopholes to take advantage of; he can also hire a good tax accountant, whereas Joe can't.  I think Mike is paying closer to $350,000 in taxes and therein lies the rub.  

I conclude that some adjustment is indeed in order.  We don't have to skin the rich and we want to keep incentives for Americans to want to work hard, invest and grow their wealth.  But, we also need to level the playing field.  The consistent rhetoric coming out of the Republican Party is falling on deaf ears on this issue. 

That's MY AMERICAN OPINION, respectfully submitted.