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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: RMF who wrote (43266)	5/18/2010 1:18:55 AM
From: TimF	Read Replies (1) \| Respond to of 71588

Guys that make a Billion Bucks a year should be willing to live with $300 million "take home". That's fantasy thinking. People respond to incentives. Tax 70% (in your example not just on the marginal dollar but on the whole, for every high income people) and you depress economic activity, and even, at least in the long run (and possibly in the short run) government revenue. Greece doesn't have low tax rates, it has rather high rates. That's one (not the only one, but a significant factor) for all the tax evasion and avoidance there. We can get marginally more income from tax rate increases (whether or not its a net good to do so is another story), but not enough to be a very significant part of restoring fiscal stability and sense to this country.

To: RMF who wrote (43266)	5/18/2010 10:40:21 PM
From: Peter Dierks	Respond to of 71588

Guys that make a Billion Bucks a year should be willing to live with $300 million "take home". ROTFL When you voluntarily pay 70% of your income to the taxing agencies then offer that advice. If that were true the Beatles would have never made this song popular and moved to the US: Let me tell you how it will be There?s one for you, nin'teen for me Cause I'm the tax man Yea I'm the tax man Should five percent appear too small Be thankful I don't take it all Cause I'm the tax man Yea I'm the tax man If you drive a car-car I'll tax the street If you try to sit-sit I'll tax your seat If you get too cold I'll tax the heat If you take a walk I'll tax your feet Tax man Well I'm the tax man Yea I'm the tax man Don't ask me what I want it for If you don't want to pay some more Cause I'm the tax man Yea I'm the tax man Now my advice for those who die (tax man) Declare the pennies on your eyes (tax man) Cause I'm the tax man Yea I'm the tax man And you're working for no one but me (Tax man I don't know anyone who voluntarily pays massively more to the taxing authorities than required by law? Do you?