Why Progressive Taxes Are Foolish

Why Progressive Taxes Are Foolish and why they should be abolished.


Just to be fair I'm going to lump in all taxes on income here and not just the actual income tax. I'm including abolishing the OSI tax and Medicare tax. I think one of the things the middle class needs to realize is that they get hit the hardest with the progressive income class.  The calls for a return to the Clinton year taxes to somehow aid the economy are pretty reckless. Let's do some comparing here:

This information comes from the census data.

 The average New Car in 1996 costs: $18,777.
The average new Car in 2011 costs $30,500
62.4% increase

 The average home price in 1996 costs: 168K
 The average home price in 2011 costs: 245K
 45.8% increase

Average tuition, room and board per year at a public university in 1996. $4,280
Average tuition, room and board per year at a public university in 2012, $8,240
 92.5% increase

 A gallon of gas in 1996: $1.23 per gallon.
A gallon of gas in 2012: $3.68 per gallon. (roughly)
199% increase

So let's get this straight, you make more money and you're taxed more, but what you're buying cost much much more. As it turns out, you're really not getting wealthier. But the government's taking more and more of your money.

Comparing high paying jobs today with the mid-nineties does not accurately take into consideration the higher cost of living today. All it does is keep the middle class that's trying to move up the latter to upper middle class down and the effect falls through to everyone else.