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

To: Tenchusatsu who wrote (607798)	4/14/2011 6:04:14 PM
From: Alighieri	Read Replies (1) \| Respond to of 1583677

Al, do you realize that FICA taxes (for Social Security and Medicare) are regressive, yet that accounts for half of all federal tax revenue collected by the IRS? Yes, I know that...remind your conservative pals when they say that the poor don't pay any taxes. My point about raising taxes on everyone stands. If you just target the "richest 5%," they'll just move their money-making assets into tax shelters. Or move out of the country. Kind of like what Michael Bloomberg observed in Manhattan, where taxes on the "rich" rose, but that triggered an exodus of millionaires and the result was no net gain. If you just increase taxes without changing the tax code itself, you are correct...but as I am sure you have heard, both sides recognize this problem. Maybe it's time to move to a flat tax. That would be tough on the poor... Al