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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Win Smith who wrote (146909)	10/3/2004 10:56:01 AM
From: Keith Feral	Read Replies (2) \| Respond to of 281500

Most of the super rich Hollywood actors become ultra liberal at some point. I think they have to develop a facade of liberalism to protect their image. I cannot imagine the thought of Hollywood stars supporting a political party that challenges women's rights and gay rights. I think the Republican's are out of touch thinking they have a right to control people's personal lives while they are trying to give people more economic liberty (more after tax income). As far as their economic agenda, I believe that cutting taxes will help grow the economy. There is nothing rational about high taxes. In recent years, AMT taxes have destroyed most attempts for people to make writeoffs on their schedule C. To make Americans pay taxes against their gross income without any opportunity for personal expenses contradicts the entire spirit of corporate tax law. In business, income = revenues less expenses. Corporations pay the 30% tax rate against gross income. Not so for John Q 6 Pack. His employer takes out 7% for FICA, 30% for Federal, 7% for State, and 3% for local against his revenues. It is almost impossible to imagine that people will be able to grow their savings when they are being taxed for a total of 47% of their gross income. We are still living with a communist tax structure. Let's consider small business taxes. Until Bush came to office, the small business investment for new equipment was limited to $25,000. The tax changes that went into effect last year increased the writeoff to $100,000. That includes all of the new equipment that businesses need to purchase and depreciate in the same tax year the assets are purchased. This has made a profound impact on the way that small business can put money to work and get things rolling. Any CEO that supports higher taxes should have their head examined. The way that they dilute shareholder value with stock options and obscene compensation packages speaks to their personal greed motive. If they want to contribute some money to the government, maybe they should set up a tax charity. Otherwise, they should keep a strong spine and encourage people to maximize their economic utility.