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

To: Joe NYC who wrote (527635)	11/10/2009 4:29:51 PM
From: TimF	Read Replies (1) \| Respond to of 1577033

Having almost half of the people pay no income tax when you have a very large government structure largely supported by the income tax is a bad thing, OTOH so are across the board tax increases. Also the timing for the tax increase is bad. If you do want to include all but the seriously poor in the income tax again perhaps a good way to do it would be to allow bracket crept for awhile by shutting off indexing. Its slower and gives time to adjust, and also doesn't raise the top marginal rate. But the problem here is that getting in the habit of not indexing for inflation, could in the long run amount to a really huge tax increase. Perhaps a total reform of the whole tax system. One possibility get rid of payroll taxes, and lower income tax rates, but reduce deductions and credits, and start the income tax at a lower level. But that will probably never happen.