Petition for Minimum 30% Tax Rate on $1,000,000+ Income
January 26, 2012 in Uncategorized
David Hylton just started a petition on the White House petitions site, We the People. The petition is as follows. Will you sign it? http://wh.gov/KmX
We petition the Obama administration to require those who make $1,000,000 or more a year to pay a minimum tax rate of at least 30%.
For an income tax system to be fair it must, at the very least, apply a base tax rate universally to all citizens, from low- to high-income earners. A more socially-conscious system would scale taxes so that the poor pay the lowest rates and the wealthy the highest. In the U.S. we don’t have a fair scaled tax, or even a bare-bones flat tax. We are in a democracy where an upper-class taxpayer making $1,000,000 or more in annual income is eligible for a tax rate significantly lower than that for a middle-class taxpayer. Disproportionately rewarding passive wealth accumulation is counterproductive in creating a flourishing and sustainable society. At the very least, those earning $1,000,000+ should pay a rate of 30%, as suggested by Warren Buffet. Thank you for your attention.
The petition must get 25,000 signatures within 30 days in order for it to be reviewed by the White House. You can view and sign the petition at the following link: http://wh.gov/KmX
