What Is a Fair Tax Code in the United States?: The Fiscal Cliff Explained

Taxes are still a hot topic after the presidential election. But as a country that spends more than it collects in taxes, are we asking the right taxpayers to pay the right amounts?

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[no10standard]

Complete load of crap. He never explains that if you doubled, or even tripled the tax rate on the wealthy it wouldn't put a dent in the deficit. We OVERSPEND $4 billion dollars a DAY. If you simple confiscated all the wealth of 4,000 millionaires everyday, all you would get would be a break even spending. If the IRS grabbed 100 percent of income over $1 million, the take would be just $616 billion. That’s only a third of this year’s deficit. Its not a tax problem, its a spending problem.

[cstarsfly]

"And now we have a problem... We are not raising enough money in taxes to cover government spending."

Well here is an idea... Why don't we force our government to be more fiscally responsible? Why don't we reduce government spending? Why don't we cut most all of these awful programs?

Here's the problem in this country; We are continuing to tax more and more those who work while at the same time subsidizing those who do not work.

LESS TAXES FOR ALL. CUT THE PROGRAMS!!!

[martin kelly]

Thanks to liberal policy the world economy is crashing. We must do two things to stop the meltdown NOW!!! Firstly, we need to raise all payroll taxes 10% for one year. We also need to stop (right now) wasteful handout programs like VA programs, medicare, social security, unemployment,, etc. and lower the minimum wage to $2/hr so we can compete with China for jobs. I will work with Boehner, Ryan and my other republican colleagues and take immediate action on these proposals. God bless the GOP!

[Steven Barrett]

The retired hairdresser on SSDI did not pay less for what he's getting in return, especially if he made more than $100K prior to becoming disabled and having to apply for disability. My biggest concern is that in his efforts to be as fair as possible to all sides in this argument, he's inadvertently giving ammunition to the Republicans who would twist any statement in their decades-long drive to eliminate the entire social safety net.

[neo1baby]

There is no fair tax code, because there is no representation on the taxes we are paying.

The Poor is under 13k a year...when poor people go out there budget they get bad credit, when wealthy people spend beyond their means they get bailed out. If America get bail outs, give it to the people

[coshawn311]

Wonderful question the video just left me wanting more answers

[atreya87]

A flat tax is fair. Everybody pays the same percentage of their income in taxes

[rob roberts]

you are pathetic