John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: The Ox who wrote (13582)	2/9/2013 1:56:52 PM
From: The Ox	4 Recommendations Read Replies (3) of 33421

Let me add that just because I believe those who make more should do more doesn't mean that I believe those who make more should have to pay excessively. We don't need excessive taxes on anyone or anything. Even the so called "Sin Taxes" on cigarettes and alcohol shouldn't be outrageous, imo. A simpler tax plan would be ideal but I still believe that it should be graduated. I don't think the millionaires and billionaires need to be taxed double what most others are being taxed at but there's no reason why we/they can't pay 33% more than the bulk of the population and double what the lowest segment of society pays! If the tax rates were 10%, 15% and 20% (in total fed+state+county+local,etc) there would still be plenty of tax dollars to put into action. It should be based upon a complete sample of taxpayers to determine the bottom 10% pay 10% tax, the middle 85% pay 15% tax and the top 5% pay 20% tax or something similar. EDIT - also eliminate the differences between gains, income and any other way to dodge the tax man. Make it simple, money in your pocket, whether from gains, salary or any other source should be subject to the tax, with a modest exception made for gifts.

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