That kind of plan is exactly why we didn't truly prosper until the '80s when Reagan dropped the top marginal tax rate to 39%. We don't have a flat 35% tax rate right now. In fact, if you look at the distribution of tax revenue, the top 5% of taxpayers pay 70% of the taxes, and the bottom 50% pay nothing.
The only way to be truly fair would be to get rid of the current tax withholding system, and replace it with a flat 22% sales tax with exemptions for only food. We would get far more revenue from this method than with the withholding system, and would be able to retire the national debt within a generation. -- John "Smokey Behr" Gleichweit FF1/EMT, CCNA, MCSE IPN-CAL023 N6FOG UP Fresno Sub MP183.5 ECV1852 List Owner x10, Moderator x9 CA-OES 51-507 http://smokeybehr.blogspot.com http://www.myspace.com/smokeybehr ________________________________ From: Howard S. White <drpa...@msn.com> Subject: [sdsixshooters] the economy How I would fix the economy Greed is hurting all of us. When is there enough wealth to stop getting more? If someone gets $100,000,000, 000, he can afford to pay 99% tax and learn to live on $1,000,000,000. But our tax laws give that person $650,000,000, 000. I don't believe that is fair. So I propose eliminating the current 35% flat tax that we currently have. Mike's non-flat tax plan wealth = tax + spending $100B 99% $1B $10B 95% $500M $1B 90% $100M $100M 80% $20M $10M 70% $3M $1M 50% $500K $100K 10% $90K $20K 0% $20K Some people say that, if poor people did not pay taxes, they would not have any incentive to try to gain wealth and live on welfare. This is crazy because wealth is the incentive and tax on poor people is just insulting. But no one has $100,000,000, 000. I think Exxon-Mobil is trying to, real hard. If they had to pay 99% tax, they would not try so hard and we would all benefit from that. Michael E. Lebo San Diego [Non-text portions of this message have been removed]
