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

To: Wayners who wrote (485904)	11/3/2003 2:46:13 PM
From: jackhach	Read Replies (2) \| Respond to of 769670

If nearly 65% of the USA total income (available to tax) is earned by only 18 to 20% of it citizens -- then both the rich (those 20%) & middle class (60%) are going to be overtaxed substantially (poor = 20% with no "real" taxable income) Does this make any sense to anyone? You have to overtax the rich because they HAVE all the money (income) -- and despite this you are still forced to OVERTAX the middle class cuz' they have the rest of it. If we instituted a FLAT TAX -- the treasury would go broke/economy would collapse. Because we would all have to pay in the order of $15,000 to $20,000 per worker. This is without accounting for state/local income/property tax demands. One trillion+ dollar budget divided by 180 million employees = $??????? Corporate taxes equal about 8 to 12% of FED revs and FEES (land use fees, telephone user fees etc...) account for about another 4%. So until this disproportionate earned income figure returns to something closely resembling equity for effort/work actually put forth -- we will continue to overpay. -JH The only other alternative is to tax the accumulated assets of those who have/have had the money to acquire them -- which nobody cares to do; and the states/locals are doing anyway to compensate lack of fed funds.