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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (43629)	3/13/2001 6:45:13 PM
From: Cary Salsberg	Read Replies (2) \| Respond to of 70976

Mike, Each year, April 15 is a personal trauma. I divide the year into before and after I pay taxes. My anniversary is April 18 (also Paul Revere's ride) and it is always sweeter because taxes are over. I would like to keep more money, as would anyone, but this is true at any tax rate and in any tax system. Should I keep more? After the debt is paid off, a balanced budget will require less taxes so people will keep more. Who gets to keep most of the taxes is a fundamental question. 45% of the tax savings in the Bush plan goes to the top 1%. They pay more tax. Most tax systems would have them pay more and a progressive graduated system has them pay higher marginal rates. The Bush plan is a move toward a regressive flat tax. He wants fewer brackets and lower rates. He really wants one bracket at a low rate. Everyone is in favor of a tax cut in the face of mounting surplus forecasts. Bush has not tied his to a budget or to actual future surpluses.