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Politics : American Presidential Politics and foreign affairs
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To: TimF who wrote (44907)8/17/2010 7:44:38 AM
From: DuckTapeSunroof  Read Replies (1) of 71588
 
Re: [No reason we should have the top marginal rate kick-in at $200,000 though!] "No particularly important reason, but there is no particularly important reason for any other level either, either higher or lower."

I agree that the BEST RATE would be a SINGLE RATE, for *all* income, regardless of source, with no loopholes.

B-U-T... if we are to remain stuck with graduated income tax rates and massive loopholes then I ABSOLUTELY do not believe (like the article posited) that 'LeBron James and LeBron's dentist' should pay the same top marginal rate.

If we are to have graduated rates then the TOP marginal rate should be levied only on very high incomes indeed....

Re: "There is a good reason to have taxes on investment income low (not necessarily lower than ordinary income...."

I agree that tax rates on 'investment income' should NOT be any lower then rates on 'regular' income. (Ideally the same rate should apply for *all income* though.)

I base that position on the firm belief that the government should *not be in the business* of picking 'winning' and the 'losing' careers... they should NOT tilt the playing field to benefit one guy and disadvantage another.

The government should *not* use the tax codes to say that the labor of a guy who works with his hands or his back should be any LESS, or any MORE, valuable then the labor of a guy who works with his mind.

The government should be absolutely NEUTRAL in these matters....
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