[EMAIL PROTECTED] wrote: > Leland, > > In your description of the 'progressive' tax system, you admit that the poor > pay little or no taxes, and the middle class, minimal taxes. So the only > place left to cut taxes is for those that are better off. You may not like > this on the grounds of your particular type of morality, but consider what > the rich do with their money. They invest it and they buy things. Now if > not too much finds it's way out of the country and the things they buy do not > include politicans, this creates jobs and puts money in other peoples > pockets. How anyone can help but understand this, I do not know. > I think it is incorrect to say that the very wealthy pay all the USA taxes. It would be interesting to know exactly how much revenue is raised each year by income tax bracket. If I can find the time, I may google to see if I can find the answer, but I suspect the middle class pays the majority of taxes. I think it is also wrong to assume the filthy rich contribute more to the prosperity of Americans in lower income tax bracket. Usually the very wealthy invest their billions in stock, bond, gold, fine art, mansions, etc, which doesn't contribute anything directly to the working class that are in lower income bracket. In other words, the very wealthy tend to horde money rather than distributing their wealth around more evenly.
Some very wealthy individual make charitable contribution to various worthy causes, but then they get a tax deduction, don't they. > You are correct that inflation and high interest rates will kill the bond > market. However, stocks, particularly those that are tied to hard assets > tend to rise with the value. I'm not arguing that inflation is necessarily a > good thing, but given the state of national debt, it may be the best strategy > that we have. Do I mind paying back the ChiComs 50 cents on the dollar of > their investments... heck no! > The inflation rate is a moving target and makes it very difficult to know where you stand financially at any point in time. An asset could be held and appreciate nicely over a period of time resulting in a gain when sold, but if the inflation rate increases faster than the appreciation rate on the asset the transaction actually results in a lose of purchasing power. Even if the sale did result in a net gain adjusted for inflation, by the following year, month, week, or day, run-away inflation could turn the sale into a loser. > Beyond this, most attempts to control inflation, such as raising interest > rates (remember killing bond market) have the effect of slowing down economic > activity. That is never a good thing. > Neither is inflation a good thing, so choices have to be made. During the Bush Administration the Federal Reserve has continually lower interest rate, which has greatly benefited anyone invested in interest bearing instruments. > There are simply too many special interests lobbying for their own welfare to > expect the government to actually work for the good of the majority of the > people. If an when it happens, we can all be happy, but when my welfare > depends on someone taking something from someone else against his will, I > think I'd do better depending on the Gotti family. > We must reform the political finance system to strip away the influence currently owned by special interest and other big money players. > Larry Miller > > --- StripMime Report -- processed MIME parts --- > multipart/alternative > text/plain (text body -- kept) > text/html > --- > Regards, LelandJ [excessive quoting removed by server] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
