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

To: Peter O'Brien who wrote (497233)	11/23/2003 12:12:37 AM
From: jackhach	Respond to of 769670

Pete, I disagree with much about what you say, but I gotta' admit that the TAXation based on AGE is actually quite a good idea -- and it makes a great deal of sense. I thought this idea a very long time ago. This is how it could work; however it would have some additional benefits that don't apply today: Health Care would be free or fully deductible but run by the individual states, Higher Education would be free or fully deductible, and Social Security would be free -- there would be no Medicare or Medicaid. In addition I'd eliminate all sales & all state & federal corporate taxes. No Capital gains tax, but ALL interest and dividends would be taxed as ordinary income. Any and all deductions could only be DEDUCTED against EARNED INCOME -- not unearned. FED/STATE TAX COMBO: Simply take your age at 12/31 Year End and divide it by two and subtract it from 50%. ...and 20 year old would therefore pay 40% with 20% (or 8.00%) of this amount going to his/her specific state of residence at year end. ...a 40 year old would pay 30% with 40% (or 12.00%) of this figure going to his/her state... ...a 60 year old would pay 20% with 60% (or 12.00%) of this figure going to his/her state... ...a 80 year old would pay 10% with 80% (or 80.00%) of this figure going to his/her state... Eligibility for Social Security would be tied to the prevailing life expectancy chart. Whereby you would be able to collect starting at 80% of life expectancy based on your historical wages. Currently the average women lives to about 78 and the average man lives to about 74. They would have to use a combined 76 or so. Therein one could become eligible at 60 or 61 (80% of prevailing life) -- however you would only collect in proportion to your life expectancy figure. Meaning one would only begin getting 100% benefits when they reached 76 or 77. Social Security benefits would be fully taxable but based on the high age/low tax calculations. I'd eliminate the estate tax and introduce an INHERITANCE TAX whereby anyone inheriting any amount under $10 million would pay ZERO, however over ten million they would be taxed at 20% (on next dollar) on up to 80% as it graduates to $20 million+. -JH

To: Peter O'Brien who wrote (497233)	11/23/2003 7:20:23 AM
From: Kenneth E. Phillipps	Respond to of 769670

That is why people in the younger age groups should be especially skeptical of any politician claiming he/she wants to raise our taxes. They should be especially skeptical of politician like Bush who want to CUT their taxes and RAISE their benefits.