President Barack Obama Message Board

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Politics : President Barack Obama

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To: michael97123 who wrote (16842)	4/9/2008 10:08:33 AM
From: Road Walker	Read Replies (2) of 149317

You think it will be net good if cap gains are taxed at income tax rates? Or that the double taxation of dividends that went on before bush 15% on dividends was a good thing. And what about estate tax. We could go on and on about this... and bore the hell out of the Obama people. Let me just say this. Right now taxes, if you take all taxes (not just income tax), are regressive. Families that are trying to make ends meet on a salary that doesn't keep up with inflation are paying the same sales tax rate as people making millions. They are paying the same excise tax on gasoline and a six pack of beer, they are paying the same property tax rate, same road tolls, and they are paying a higher income tax rate than hedge fund managers and wealthy passive investors. Nice deal for the very rich... but for people struggling to figure out how to save enough money to retire and send three kids to college it ain't so easy. So IMHO first the tax system isn't fair, and second it isn't covering the costs of running the government (which is after all it's purpose), so it is double dysfunctional. If your sole purpose is to let the very rich keep more of their wealth then it's a pretty damn good system!

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