All,
One more thing on taxes and then we take on the Middle East (who wants to talk about Intel anyway!!).
In the past the highest tax bracket in the US was 70 percent. While this was not quite as high as the British, it was still considered to be a disincentive to earn more. Tax reform, which cut the highest rate to 34(?) percent, has, IMHO, eliminated this disincentive.
The way that our government spends money, only taxing the first $50,000 of each working American would probably require almost a 100% tax rate.
While our current system isn't perfect, I am more concerned with the spending side than the revenue side of the fiscal equation.
As for our fairness towards those who earn less income, the tax incentives given to and taken advantage of by the rich would not apply to them. I don't believe that the poor are significantly overburdened by the lack of appropriate counsel. The power of the wealthy and the dreams of those who intend to be rich have been more of a factor in limiting the taxes of the wealthy (IMHO).
Now who can solve the terrorist problems in Saudi Arabia, Israel, etc.? Any ideas? |
