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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (320588)	1/13/2007 6:09:40 PM
From: Road Walker	Read Replies (1) \| Respond to of 1576890

re: The money is taxed before it goes to the heirs. Technically the estate is taxed, but if you want to put that on a person its a tax on the dead guy. Technically I suppose you are correct but practically you are blowing smoke. re: For the most part taxes have already been paid on that money. As on all money. re: But even if we figure that estates should be taxed, that its just and good to do so... ...they already are, and at a higher rate then income. You said yourself that the loopholes (trusts) make the tax rates low. That's the part that could be corrected. re: And if you increase it even more it still won't generate enough money to allow for a major income tax cut. I'm not sure that is true, do you have data? Even if it is incremental, you have to agree that the income tax cut would be more productive than the increase in inheritance tax... for the economy.

To: TimF who wrote (320588)	1/14/2007 6:22:29 PM
From: tejek	Read Replies (1) \| Respond to of 1576890

Study says tax cuts aid richest-report While Bush's tax cuts reduced rates at every income level, they offered the biggest benefits to people at the very top, according to report. January 8 2007: 6:35 AM EST NEW YORK (CNNMoney.com) -- President Bush's tax cuts offered the biggest benefits to families in the highest income categories, according to a study cited in a published report Monday. Families earning more than $1 million a year saw their federal tax rates drop more sharply than any other group, The New York Times reported, citing a Congressional study by the nonpartisan Congressional Budget Office. The study also found that tax rates for middle-income earners edged higher in 2004, the most recent year for which data was available, the paper said. The Times said 2004 was also the first year in which taxpayers could take full advantage of the cuts on stock dividends and capital gains. Families with average incomes of $56,200 saw their average effective tax rate fall to 2.9 percent in 2004 from 5 percent in 2000, which translated to an average tax cut of $1,180 per household, but the tax rate actually increased slightly from 2003, the paper said. Households in the top 1 percent of earnings, which had an average income of $1.25 million, saw their tax rate drop to 19.6 percent in 2004 from 24.2 percent in 2000. which translated to an average tax cut of almost $58,000, the paper said, citing the budget office. Experts say the Democrats are unlikely to make any major tax moves that would increase taxes or otherwise unravel Bush's tax cuts, which are set to expire at the end of 2010. House okays strict 'pay-as-you-go' budget rule Senators introduce bill to kill AMT money.cnn.com

To: TimF who wrote (320588)	1/15/2007 3:28:43 PM
From: tejek	Respond to of 1576890

Ecuador's new leader has no kind words for U.S. Last Updated: Monday, January 15, 2007 \| 2:30 PM ET CBC News In a ceremony attended by some of Washington's staunchest foes, Ecuador's new president — a left-leaning, U.S.-trained economist — took office on Monday, pledging to fight corruption and U.S.-inspired economic policies. Rafael Correa, who won a run-off election against banana tycoon Alvaro Noboa in November, is the eighth president in ten years in Ecuador, a politically unstable nation of 14 million where the leading exports are oil and bananas. Among those who travelled to Quito for his inauguration were Venezuela's Hugo Chavez and Bolivia's Evo Morales. Also on hand was Iran's hard-line president, Mahmoud Ahmadinejad, another leader who misses few chances to twist Washington's tail. In an inauguration speech, Correa said he will convene a national body to rewrite the constitution, a plan that is certain to put him in conflict with Ecuador's congress, which is dominated by his conservative opponents. According to a text issued by his office, he declared that "the historical moment of the nation and the whole continent demands a new constitution that prepares the country for the 21st Century." The existing political structure has collapsed, brought down partly by the "claws of corruption and the political voracity," he said. Correa, who holds a doctorate in economics from the University of Illinois at Urbana-Champagne, has described himself as "left-wing, not from the Marxist left but rather a Christian left." In the speech, he denounced "the so-called Washington consensus" on free markets and debt repayment and the "neoliberal dogma and modelling-clay democracies that subject people, lives and societies" to market theories. In a country where more than 60 per cent of people live in poverty, his platform attracted voters disgusted with the corruption and greed of the political elite, the Associated Press said in a report from Quito. But some Ecuadoreans worry that his real goal is to consolidate power in the presidency, as Chavez and Morales have done in Venezuela and Bolivia, AP said. "He is leaving no room to negotiate, to reach an understanding," said Benjamin Ortiz, head of a Quito think tank. "He wants to steamroll over everyone." cbc.ca