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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Knighty Tin who wrote (24520)1/12/2005 5:21:36 PM
From: Elroy Jetson  Read Replies (1) of 110194
 
Tax-free bonds, mortgage deductions, and other special preferences necessitate income tax rates of 38% just to raise 8% of total income.

Forget flat tax. An income tax, more progressive than our current income tax, could cap out at 15% were it not for the fact that most income is not taxed in America.

People paying income tax rates above 15% should wonder why they are such suckers.
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