Re: WAY OT: Gas-Gouging Greenspan

On Thu, 08 Sep 2005 22:58:28 GMT, MZ <mark@xxxxxxxxxxxxx> quacked:

>> rich. It is pretty silly to argue that the rich should pay less than
>> their fair share because they have more money to buy the services of
>> others than those with less money. That is precisely the reason for
>> taxing them more than the middle class.
>
>Care to elaborate on those two sentences?

The point of a redistributive tax, like a graduated income tax, is to
put higher taxes on those with higher incomes. Income is defined, in
this context, as the sum of consumption and net new savings for the
year. So the fact that a rich guy creates a job for someone by hiring
a maid or a gardener simply reflects the fact that he has higher
consumption than the guy who can't afford a maid or gardener. And, if
he has higher consumption, he should pay higher taxes under a
progressive income tax.

Now, if the rich guy is running a business, then the cost of hiring an
employee is deductible and is not an issue under the income tax. Same
is true, of course, if a middle class person is running a business.
--McDuck
.

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