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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: geode00 who wrote (149074)	12/5/2008 1:03:30 PM
From: JakeStraw	Read Replies (2) \| Respond to of 173976

>>That would be coupled with the elimination of taxation to (again just a number) those families making $40K or less Oh yeah that's real fair... Punish people for making more money...

To: geode00 who wrote (149074)	12/5/2008 5:36:52 PM
From: Steve Dietrich	2 Recommendations Read Replies (1) \| Respond to of 173976

Yes, we should immediately have a very progressive taxation policy that brings back, say, a 75% tax rate (90% didn't hurt us either but that sounds excessive) on incomes over (just throwing out a number) $5 million. That could be $10 million or $2.5 million but it definitely applies to those making $3.7 billion and paying 15%. Reagan presided over a huge increase in the regressive payroll taxes. That coupled with many cuts in progressive taxes: income, capital gains, estate has shifted the tax burden down towards lower income earners. In my opinion, that needs to be changed. If it were up to me, the payroll taxes would be scrapped and replaced by raising the income tax enough to make the move revenue neutral. The government treats the payroll taxes like general revenue anyway, so i say junk the fiction and pay for everything with the income tax... SD