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

To: combjelly who wrote (833085)	1/28/2015 6:55:07 PM
From: Broken_Clock	Respond to of 1578740

even fed income tax is regressive

To: combjelly who wrote (833085)	1/28/2015 7:05:04 PM
From: i-node	2 Recommendations Recommended By gamesmistress Taro Read Replies (1) \| Respond to of 1578740

>> Income tax is about the only progressive tax. Which is why there is a push to replace income taxes with sales taxes Your two sentences constitute a non-sequitur. That being said, income taxes ARE the biggest single progressive tax in the US. But this is a result of broken social programs (SS & Medicare) which, when proposed, involved very small taxes on the future beneficiaries to fund the programs. In both cases, those programs were broken from the outset and underfunded on Day One. FDR would never have supported what SS has become today (before his death he expressed his concern that if "these programs become a burden" to future generations they will have been failures; they did, and they are). So, by 1980, SS was flat broke. Reagan imposed a huge new tax to "shore up the program" for a few decades. There was an understanding at the time it wasn't a permanent fix and that Congress should act before that time expired. They didn't. In the meantime, Medicare became a total disaster that makes SS look like a mosquito bite. And the Left now says, "Oh, THAT little tax? No, silly. No dumbass could EVER think you could pay Medicare out of that. We need to eliminate the cap!" So we did. And now, it is "That little payroll tax, don't be an idiot. You can't pay for Medicare out of that! You have to have a piece of the action! We need to to add a few percent to the income tax, that'll take care of the problem!" Of course, Obama already got the capital gains as part of Obamacare. And now he wants even MORE on capital gains. And gas taxes. And you-name-it. You're fools, all of you. There is no money.