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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (2648)	7/31/1999 1:29:00 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 769670

Well ok, I think I have 2 primary problems with the tax code now. First the sense that investment income is not "income" and as such is subject to different taxes, and second that fica tops out too low. I think everybody should pay less taxes but there are some serious entitlement problems that no one seems willing to address. Let say you taxed all income (investment and non) the same, and entitlements didn't top out at 70K or whereever it is. Of course you then would need to remove any caps on SS payouts. Well dang, that would fix social security wouldn't it? Because the wealthy people would end up paying this huge tax in the same burdensome proportions that it is on the middle class and they would see the dinky 1% returns or whatever SS is going to pay out to the new investors as unacceptable. (I'm not talking about the current ss recipients, they received excellent returns on their money). Somebody once said a consumption tax was the only fair tax, that might be so.