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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (76190)	4/18/2007 11:20:05 AM
From: ChanceIs	Read Replies (1) \| Respond to of 306849

>>>You didn't answer my questions.<<< How much should the wealthy pay?? The same percentage as the poor. Provided of course that we totally scrap the tax code with all of its nonsense deductions, credits, etc. I have a knowledgeable liberal friend who thinks that when you throw in all the crap, we basically have a flat tax today. How much should the poor subsidize the rich??? Richard Nixon was a total fool to institute the AMT. The rich had all of these investment incentives to do things which they otherwise wouldn't have done. As an example, Jimmy Carter wanted more domestic natural gas production. He invented the 529(C) (check me on that) for investments in natural gas which wouldn't have otherwise been profitable. So we probably had the case that the US got gas at the same net cost (the government could have paid to drill through tax dollars), and the wealthy got the same net - they could have invested in "T-bills" and then paid tax on the interest instead of taking the tax credit. Its just that some whining Congressman pointed out that some of the wealthy were literally paying no tax instead of balancing that against the notion that they were earning less than they could have because the government wanted to interfere in the free market and direct societal resources elsewhere. Did I make myself clear???? Everybody should pay the same percentage - and it should be 25% at a maximum. If the wealthy want to cheat, then we should turn the DOJ loose upon them in spades. Certainly we should have aggressive and vastly unequal auditing and prosecution of the wealthy.