I thought the quoted material contained the contradiction. I don't know how great the disparity would be with the inclusion of benefits off hand, I was speculating, so I will drop that.
You are quite wrong on the second point. The quintiles are meaningless because it is typical for people to do better later in life.
I think IRAs are great, in the current tax environment.
In the 80s, Kemp- Roth cut marginal rates while closing shelters. That is what I was using as the tax adjustment related to "trickle down". I would be happy with a flat tax, personally, or even the FT lite, with three rates. I do not have the math on the Bush plan at my fingertips, if I have a little time, I will see what I can get on the Web.
The lowest income people pay no federal income tax, and therefore it is a non- issue.
If debt is reduced by virtue of family oriented tax relief, there will at least be a marginal effect on bankruptcies, since additional income can stave off some crises....... |
