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Politics : Ask Michael Burke

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To: John Koligman who wrote (115765)	9/12/2008 1:41:18 PM
From: Freedom Fighter	Read Replies (1) of 132070

John, I've been in these debates about tax rates before. In Warren's case, part of the problem is that he includes SS taxes. SS is regressive and always has been. Everyone pays SS up to a limit and then it stops. So the tax rate for people at the bottom automatically has an added burden because they pay SS tax on their entire income. Of course, benefits are related to your contributions. So they get it back (and then some). If you take out SS and just look at real income taxes, it's a different picture. The difference in rates between Cap Gains/Dividends and earned income from a job is mostly a legitimate issue to debate. On one side, it's pretty easy to conclude that lower taxes on capital are a good thing in terms of economics. It's also easy to say that part of most capital gains are actually not even real gains because of inflation, yet people get taxed on it. Maybe to be fair the rate should be lower if you aren't going to index for inflation? Then it's a matter of the rate should be. I think we are mostly on the same page, but I am not a fan of taking more from the rich to promote the growth of government.

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