Each year, the federal government creates a budget, and as it is presently, we find that governmental expenditures don’t come close to covering what the government receives in taxation, which doesn’t even make sense considering that America is the richest nation in the world. This would presuppose that those who have money simply aren’t being taxed enough, and further to the point, that the tax laws aren’t robust enough in the collection of those taxes.
The best way to amend how our tax system works is to see that high-net-worth individuals are audited at a much higher rate than they are presently, along with corporations that have assets of $500 million or above, should by law, be annually audited, and those that are public corporations should have their tax return made fully public, so that the citizens of this nation can ascertain as to whether or nor huge megacorporation’s such as Microsoft, Exxon, Amazon, Apple, and so on, are paying even close to the current corporate flat tax rate of 21% and if not, what can be done to see that these megacorporation’s who could easily afford to pay what they ought to pay, do their duty in paying their fair share of taxes as opposed to making self-serving comments that they pay “all the taxes that they legally owe,” which basically means that they have sophisticated workarounds that reduces their taxes almost to an irrelevancy.
If this nation truly believes that one of the purposes of taxation is a redistribution of those monies collected for the greater good of the population, then it ought to make it its point to see that those who can readily afford to pay more in taxes pay their fair share, rather than them hiding behind the most sophisticated tax dodges ever created by humankind, which should be seen as something unbecoming of a patriotic citizen or a patriotic megacorporation. Indeed, those who don’t pay their fair share of taxes should be outed and shamed because they are failing to contribute their fair share to reducing the federal deficit that this nation urgently needs to turn around, and they are basically enriching themselves at the expense of the most vulnerable among us.
For a certainty, many of these high-net-worth individuals and high-grossing corporations are not paying their fair share in taxes, and the best way to make this more visible to the public at large is to make these tax returns more accessible to the general public so that they can see for themselves that those that are the richest, and the most elite, are in many a case, paying less in taxes, than those that are of the middle class, which is not how this progressive tax system is supposed to work, and quite obviously not how taxation should work if one of the prime purposes of such is the redistribution of wealth, because as it is, the rich have never been richer, which has just about everything to do with the fact that they don’t truly pay their appropriate share in taxes and readily get away with it, without suffering opprobrium, which they rightly should.