Heinz Blasnik- Views You Can Use Message Board

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Strategies & Market Trends : Heinz Blasnik- Views You Can Use

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To: GraceZ who wrote (1776)	5/23/2003 10:05:42 PM
From: LLCF	Read Replies (1) of 4912

<<I have a tenant at my studio who makes $13,500/year sitting in a parking booth. We filed her taxes with a touch tone phone. >> In my view, 13k and even wasting time filing taxes is too bad. Isn't it sick she she needs to waste her time with that? Move that up to 50K and a family and maybe we're talking. JMO <<How do you give someone a tax break if they pay nothing in the first place?>> It's very simple in my view, give the tax breaks to people that need it. My point is make it more, make it 40%, those are just numbers... that's all. I know a lot of people paying taxes or at least file and futz around that shouldn't [again IMO] AS the country prospers I would hope we keep raising that number from the bottom till we get rid of all the income taxes if that's the goal. <Besides you aren't "giving" the rich anything you are simply letting them keep more of what they produce in the first place. > Same with all tax breaks. <What matters most if you are trying to reduce the burden of tax on the US economy and consequently increase savings and investing is that you remove the tax burden on that group of people who spend their last dollar on investment and are employing their money in the most productive manner. > I know... we differ here. But first there are two parts, reducing tax burden and then where it goes. I think the right thing to do is cut taxes for those who need money most. You're view is to cut taxes on people who already have plenty and are therefore more likely to do something else with it ie. hopefully invest it where it will create U.S. jobs for the people who's taxes I want cut. We simply differ there. Second and one reason we differ although IMO #1 is enough... 1.) is I don't think there is really any reason to believe that cutting up from the bottom isn't going to increase investment long term. This is where tons' of self employed people are, all the service people working out of countless stripmalls for example. Those people are investors in people, no matter what shows up in national accounts. 2.) As I said before, I disagree that the last dollar of the income cut is going to be invested to create jobs in a meaningful manner for those forgoing the cut. Again, I just think we disagree on this. DAK

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