Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: Augustus Gloop who wrote (72777)	2/24/2005 9:08:33 AM
From: michael97123	Read Replies (1) of 89467

I dont know if you can raise enough revenue the way you propose things, but you are headed in the right direction of fica reform and tax reform. We should in no particular order think about the following. 1. make bush tax cuts permanent--perhaps go with flat tax with big income exemptions to minimize harm for poor 2 I would also have a provision for families where the joint income would be taken into account for fica taxes so they would be capped at a lower joint number and overpayments refunded. For instance a two earner couple where each earns 90k are way overtaxed for fica imo. Perhaps this should be related to children they have up to 2. 3. Go european with VAT tax or national sales tax. Helps us with exports too. 4. Keep a small estate tax for SS purposes only 5. Exclude as you say some income from Fica and gradually impose tax as we go up income ladder. I have no idea if this raises enough money. I am not enamored with private accounts but i do think the Feds should operate the pension and not all funds in treasuries all the time. Do what the state pension plans do but do it even more conservatively. I would expand 401ks.

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