James Gallagher: Tax equity

December 25, 2012 

Tax equity

For many years, people have groused about the tax system, not because they have to pay taxes, but because of their feeling that some persons and corporations are getting away with highway robbery by using clever tax dodges so they can pay no taxes at all.

Hence this proposal: All individuals and corporations will be subject to a minimum tax of 10 percent on their gross incomes.

This would ensure that everyone in this country is paying something toward the country’s upkeep. For the ordinary wage earner, this tax would have no relevance since they already pay more than that in payroll taxes. This would only affect those with incomes high enough to hire tax lawyers to “game the system.”

Enforcement of such a minimum tax would bring about a feeling of more equity in the system and reassurance that all are paying something as a license to live and work in the greatest country in the world.

It would not solve our financial situations by itself but could be part of a total package seeking more equity in our system.

James Gallagher

Kenan Professor Emeritus, UNC-Chapel Hill

Chapel Hill

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