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Should rich people pay more tax? [Copy link] 中文

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Post time 2017-3-7 11:05:33 |Display all floors
This post was edited by senoritazhao at 2017-3-7 11:33

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Dong Mingzhu, President & Chairwoman of Gree Electric Appliances Inc. of Zhuhai, recently said during the Two Sessions as a member of the NPC, that rich people should pay more tax and the the threshold of individual income tax should be further elevated.


"the threshold of individual income tax for working class should be further elevated and rich people should pay more tax, say that those whose income are below RMB100,000 should not pay tax.


This could narrow the gap between rich andpoor and show fairness."


Said the female entrepreneur.


Should rich people pay more tax?

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Post time 2017-3-7 14:25:02 |Display all floors
I've been arguing for decades that the fairest tax is one where the ultra rich and very rich pay higher taxation, around 60-70% is a fair percentage.  

I'd go a step further and state that businesses should simply pay a single uniform tax rate based on turnover.  Nothing is deductable but you pay 15%~25% of revenue in tax. It greatly simplifies the mechanism of tax and increases the levels of money available to a country.
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Post time 2017-3-7 15:09:53 |Display all floors
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Post time 2017-3-7 15:26:35 |Display all floors
Why not

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Post time 2017-3-7 19:41:06 |Display all floors
It usually drives people/investors away it the tax is too high.
Anger is an acid that can do more harm to the vessel in which it is stored than to anything on which it is poured. Mark Twain

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Post time 2017-3-7 21:57:39 |Display all floors
Are you rich or poor ???

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Post time 2017-3-8 02:34:39 |Display all floors
HailChina! Post time: 2017-3-7 02:09
It is not fair to make high income earners pay more tax plus it gives them an excuse to forever comp ...

It is fair to tax the rich more. Society is like a family. The strong (rich) must care for the weak (poor). This is the only way to have justice and to reduce class-conflicts. I am rich; so I pay more. I am proud that I pay. I am a capitalist who can accept that amount of socialism. Selfishness should be limited. Flat taxes are unfair. People should pay the taxes they can AFFORD. Paying taxes is a social and moral DUTY.
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