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.

Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: willcousa who wrote (12313)	11/3/2003 2:31:39 PM
From: Kirk ©	Read Replies (2) \| Respond to of 95574

RE: " I was so taken aback that I asked "Do you all agree that a flat tax would be best for the economy?" Again they all said yes. I asked why don't we hear this from economists more often?. They answered - NO ONE EVER ASKS THAT QUESTION. " The reason is simple. Many smart minds go into creating or finding tax shelters. I know of one guy at a top 5 (now 4) who got a huge bonus for selling or recommending a tax shelter for something like $10M that would save the client $25M (rough numbers from memory). It seemed like such a waste to have good minds work to find or create loopholes to essentially cheat the government. compare that same resource consumption to generate $10 million in new technology revenue and it is sickening... as the new technology resources will spawn even more while the tax shelters are one time events, they don't have an economic multiplier effect.

To: willcousa who wrote (12313)	11/4/2003 9:45:22 AM
From: michael97123	Read Replies (2) \| Respond to of 95574

WC, Real reason that no one asks is that we have a "tax industry" out there represented by financial advisors, tax prep services and accountants and lawyers. Also a flat tax goes against the grain of thinking of the class warriors of the democrat party who can never be for it. If a guy makes a million bucks and we have a 20% flat tax, this 200k would never be enough for the class warriors. Their goals are far loftier than that. Mike PS i am for a flat tax with large personal exemptions for each member of the family so a family that makes 100k doesnt face a 20k(@20%) tax. I would exempt lets say 10k per family member so a family of 4 would pay the 20%(hopefully less) on 60k or an effective rate of 12%. Then it becomes fair.