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Politics : Al Gore vs George Bush: the moderate's perspective -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (2621)	10/16/2000 11:22:54 AM
From: TimF	Read Replies (1) \| Respond to of 10042

The rich (I guess I qualify at least some years) never really pay high tax rates. We take so many write-offs we actually pay less than your average working joe. We do not need tax relief. I have never paid more than about 25% even when I earned over $400,000 a year. Many people with high incomes do pay a lot of taxes. Others look for sheltered investments or ways to find write offs and deductions rather then ways to most efficently use their capital. Even if the rich person can avoid taxes the tax system reduces efficancy and creates distortions. If the rich can truely avoid taxes the answer is to cut loopholes not keep the rates high. Besides what Al Gore's tax plan considers rich doesn't just include people makeing $400,000K a year. I don't make a whole lot more then a tenth of that but I am apparently too rich to "deserve" a tax cut. (Also I consider 25% to high of rate for federal taxes but that is the subject for debate) Tim