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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (133446)	3/17/2010 1:50:26 PM
From: TimF	Respond to of 540990

We'd have many many less centithousandares. True some millionaires would be moved down to that level, but not enough to make up for the people who would have been at that level but fail to reach it in the high tax scenario. And even if it was just moving millionaires down to centithousandaires, with no other change it would be a bad thing not a good one. As for the billionaires, they would mostly avoid the high tax rates if it wasn't for Reagan's changes. The higher rates would give them a huge incentive to do so legally or illegally, and the loopholes that Reagan helped remove would give them more ability to do so legally.