Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Mr. Whist who wrote (280875)	7/27/2002 10:54:48 AM
From: DMaA	Read Replies (1) \| Respond to of 769670

What answer? I don't read no answer. At least to the question he asked. The answer is simple.

To: Mr. Whist who wrote (280875)	7/27/2002 11:15:10 AM
From: greenspirit	Read Replies (1) \| Respond to of 769670

res-The answer is simple. Someone making $500,000 a year should pay more taxes than someone making $50,000 a year. That's already happening. With very few exceptions someone making 500K per year pays a lot more in taxes then a person making 50K. Therefore, the point you made didn't address the question a bit. And someone making $50,000 a year should pay more taxes than someone making $5,000 a year. The same is true in this situation. Also, a company in the S&P 500 should pay more taxes than Joe's Hardware Store in Potosi, Missouri. When you come right down to it, companies don't really pay taxes, people do. The cost is simply passed on to the consumer. However, setting that aside for a moment, in most cases large companies pay a lot more in taxes then Joe's Hardware Store. FICA taxes alone are a huge cost to large corporations, not too mention local real-estate taxes, lighting, gas, water, phone, etc. etc.. Once again, no one has answered the question I posed. If taxes are too low, how much should they be raised? President Bush cut taxes modestly across the board by lowering marginal tax rates. So did Reagan. From a high of 72% to the level they are at today. How much should we raise taxes. Should we go back to the 70+% marginal tax rate before Reagan? Or should we stop at say 50%? What do Democrats who complain so much about the tax cut want? How much do they want to raise taxes? It's a relatively simple question. I'll show you how I would answer it. The rates are still too high. We need to focus on cutting wasteful government spending and not focus our attention on raising taxes. I believe the rates are still too high across the board, and no one should be required to pay more than 25% of their wages in taxes given the current system. What we should be doing is moving toward an across the board sales tax. A sales tax is the cleanest, simplist, and fairest way to tax our citizens. If you don't want to pay the tax, don't buy the product(s). Bigger spenders would pay larger taxes. The poor would pay hardly any. But everyone would have a responsiblity to other citizens, and share in the tax burden. We would also see what government services are costing us clearly. Each receipt would include the cost of government in the same way state sales taxes show it today. Adding one line item to a receipt, instead of the ridiculous paper crunching, time consuming, manipulative system we have today makes complete sense. Especially when you consider the IRS would be able to close it's doors and stop spying on Americans. The government has no damn business knowing how much we make, how much we spend on a home, how much we give to charity, or how much we lose or win the stock market. The same people who sit here today and complain about Ashcroft's intrusive plan on our freedoms during a time of war, are the same ones who do everything they can to strenghten the IRS looking into our most private, personal matters. Often, without due process of law principles applied. Taxing wages is an idiotic way to collect revenue. Creating a system which punishes achievement, "the more you work, the more you pay" is anti-American. We should have a system which encourages just the opposite. How many times have you heard a working man or women say to their co-workers. "There's no sense in me working overtime this weekend, because, I'll just have to give it all to the government in taxes"? Let's end this covert method of sucking the life energy our of every American and move toward a saner, rational, more liberty loving system of taxation. Will liberal Democrats join conservatives in this call the next time Dick Armey, or another politicians proposes it? I doubt it.... After all, it would take away power from the government, and give more to the citizens.