SAY WHAT? -- This week's "Say What?" segment asks local folks what they think of President Barack Obama's plan to help balance the budget by trimming tax deductions for "the rich."
Some viewers say upper-income earners SHOULD pay more, even though their tax rates were raised in January, and even though 47 percent of Americans pay NO income tax. They also support the so-called "Buffett rule" that would make sure no one earning $1 million or more a year pays less than 30 percent in taxes; this addresses the issue of investors paying much lower capital gains tax rates.
Other viewers think the better approach would be to phase out most tax deductions and loopholes for EVERYONE and move toward a simpler, flatter tax rate so that lawmakers could not grant tax breaks in exchange for contributions and votes.
Watch our "Say What?" report and then tell us what YOU think.
And for further reading, see these two articles, one on the President's budget proposal and the other on how much millionaires pay in taxes.
Some viewers say upper-income earners SHOULD pay more, even though their tax rates were raised in January, and even though 47 percent of Americans pay NO income tax. They also support the so-called "Buffett rule" that would make sure no one earning $1 million or more a year pays less than 30 percent in taxes; this addresses the issue of investors paying much lower capital gains tax rates.
Other viewers think the better approach would be to phase out most tax deductions and loopholes for EVERYONE and move toward a simpler, flatter tax rate so that lawmakers could not grant tax breaks in exchange for contributions and votes.
Watch our "Say What?" report and then tell us what YOU think.
And for further reading, see these two articles, one on the President's budget proposal and the other on how much millionaires pay in taxes.
