I used to support the flat tax idea, but I've come to the conclusion that it's not equitable. It places far more burden on lower income people. A graduated tax is the only fair way to set it up IMO.
I would definitely have to disagree. At an income level low enough for it to matter, they aren't paying taxes.
I'm not sure I
buy that. 20% of households (households, not individuals) make less than 19k per year. The average American household makes roughly 45k per year. Less than 2% make over 250k per year. No matter where you live, 100k per year is a high wage. Better than what most people consider middle class in this nation.
As of the 2000 census....
Per capita income in NJ - $27k
Median household income - $55k
NJ has the highest percentage of millionaire residents, over 7% of NJ households.
At the same time, 8.5% lives below the national poverty line.
In my county, the median household income, as of the year 2000, was just shy of $80k. As of 2007, the
median household income was $100k.
Out of the entire country,
nine NJ counties are in the top 100 wealthiest counties.
Now, what you need to take into account is the cost of living here. A cheap home, a fixer upper, even in this market.... will start at around $225k-$275k.
Seriously, check it out. The COL here is ridiculous. And don't say "so move". The work that I do requires being in close proximity to major metropolitan locations. I commute 2 hours, by train, each way, each day, to get to NYC.