Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Elroy Jetson who wrote (50050)	5/16/2004 1:06:23 PM
From: LLCF	Read Replies (1) of 74559

<A Flat-Tax would provide a substantial windfall for his family with the lost tax receipts restored by a tax increase of 60% on the lowest earning families.> I was under the impression that under a 'flat tax' scenario you would [could] still have zero taxes below a certain income threshold. While there are no easy answers, the mechanisms of tax brackets with deductions, etc. , at least the way it's practiced in most countries keep an enormous amount of energy tied up in non productive cycles of 'tax minimization' schemes. That said, I also see no reason we coudn't have a few brackets with no [few] deductions for any reason type of thing. BTW, I wouldn't worry about the super rich getting richer... if that continues all there assets will be grabbed at some point anyway. They'll be lucky to avoid the gallows. DAK

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