How do you feel about the existing tax structure where you live? Do you believe individual income tax is the best way to raise funds or are there better alternatives?
I think it’s wholly unfair. Those who make gobs and gobs of money such as most of Wall Street (didn’t they just bankrupt the country??), upper management in companies, etc. and the mega corporations that are “headquartered” in this country though tax loopholes and use of off-shore tax shelters, etc. pay little-to-no income tax on their money, while the rest of us are left to foot the bill. (Ex: ExxonMobil has their HQ in like Bermuda or something and doesn’t pay the US Government a penny in taxes)
I think we need a serious revision in tax law in this country. One that more fairly shifts the tax burden onto those who can afford it, the people making larger sums of money and corporations, so that the middle and lower class individuals, families, and small businesses are not being unfairly taxed out of existence.
Individual income tax is fine. What we need is what I said above, a shift of the major chunk of the tax burden from the lower and middle class families and individuals, and small businesses, to the upper class families, individuals, and corporations who are paying less than their fair share of taxes, or no taxes, at the moment.