Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: Alighieri who wrote (390521)	6/11/2008 4:46:38 PM
From: Tenchusatsu	Read Replies (3) of 1577978

Al, > I am not a tax engineer, but I can imagine ways that lead to higher taxes for the rich. The problem with raising taxes on the rich is that the unintended consequences end up RESTRICTING class mobility. You point to Buffet not paying 40% of his income in taxes, which is why I asked you for ways to get at his income. The only solution you put forth would lead to said unintended consequences. And for what? To pay down the deficit? Raising taxes going into a recession will guarantee that tax revenues will fall even faster than you can increase revenues. How about wealth redistribution schemes? Talk about getting more and more people dependent on the government instead of self-reliant and contributing more than they take in. Now if you think in the long run a sound fiscal policy will strengthen the dollar, curb inflation, and set a firm foundation for long-term economic growth, I would agree. But you can do that without raising taxes. In the end, you say you're not a "tax engineer," but so what? I'm not one either. It doesn't take a genius to figure out what the unintended consequences are. Just an open mind. Tenchusatsu

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