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Politics : PRESIDENT GEORGE W. BUSH
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To: SecularBull who wrote (124950)2/1/2001 4:17:47 PM
From: TigerPaw  Read Replies (2) of 769670
 
Sure, I'm willing to share my favored concept of the tax code. Be forwarned that whether it is an income distribution scheme or not depends more on how the tax money is spent than how it is collected.

I propose 3 rates.

Rate 1 - nothing. no tax required if you make less than a certain amount of income. For what it's worth I think that filing a return is still a good idea at this rate.

Rate 2 - A middle class tax rate. This covers people who are more than poor but still have to work for a living.

Rate 3 - A higher tax rate on money above the cutoff for Rate 2. The idea is you pay nothing on a certain amount, a certain rate on a normal living wage, and a higher rate on money beyond that range.

Beyond this I would rather see no deductions of any kind for any reason. If the govt. wants to promote something or other that should be a separate program.

As with all programs, the devil is in the details.

The 2 cent version of why I think the top rate should be income based (progressive) is that I view it as an opportunity cost. Great success in this country is not only the result of hard work and luck, but because the environment for sucess was available. That environment is created by the hard work of everyone, not just the person who gets the final receipt of the profits.
TP
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