Post #15156 by albaby1 on the US Policy board

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Because the discussion is about the federal income tax.

Biden's quote didn't say the federal income tax. He said federal tax.

But this is what we have. Taxing wealth (which is what Biden is ultimately going for) is a horrible idea.

We're not in Dr. Pangloss' best of all possible worlds. Just because this is what we have doesn't mean it can't be improved. There are a lot of problems with wealth taxes, but that doesn't mean that the exemption of most billionaire earnings from effective taxation isn't a problem or that we shouldn't try to explore other measures to mitigate how low their proportionate tax burden is.

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