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Politics : Formerly About Advanced Micro Devices

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To: Tenchusatsu who wrote (748906)	10/23/2013 7:04:19 PM
From: SilentZ	Read Replies (2) of 1573848

>Because it defies common sense. A 90% income tax rate is equivalent to sending a donation to the IRS (with them giving you back 10% as a "thank you.") Even Warran "Tax me more" Buffett won't write a check directly to the IRS. The point is not the nominal tax rate; it's the effective tax rate. Even if nobody pays 90%, the effective tax rate for a lot of people is going to be higher than when that bracket is set at 38%. But it's not just about the federal income tax, of course. I'm all in for taxing capital gains as revenue and/or a small securities transaction tax. That'd be much more of an equalizer than an increase in the federal income tax. >Of course, you probably think 90% is too low. No, way too high. I think there are a couple of liberals here who would disagree, but it does seem crazy to me (other than, say, in times of all-out war). -Z

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