Comment Re:I'm all for abolishing the IRS (Score 1) 349
Yes, my method would shift the tax burden to the wealthy a SMALL amount, but not by much. Current estimates have the US wealth divided as such:
0-50 percentile are poor. They own nothing and pay no income tax. nothing changes for the poor
51-90 are middle class, own 1/3 of the property and pay about 1/3 of the taxes. Again, nothing changes.
91-99 are upper class, own a bit less than 1/3 of the property but pay a bit more than 1/3 of the taxes. They do better with this system.
1 % are truly wealthy, own more than 1/3 of the property but pay a bit less than 1/3 of the taxes (mainly becuase of tax manipulations). They lose their unfair advantage.
My system does not eat the rich, but is simple.