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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: bart13 who wrote (113280)	9/8/2015 7:57:04 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 218477

Reagan's style of tax increase was "Class Warfare". Reagan increased the Social Security and Medicare tax rates and used these surplus revenues to lower Income Tax rates. This has created a 35 year long income transfer from working people to wealthy investors So it's hardly surprising that 35 years of this tax bias has shifted the benefits of all economic growth to the wealthiest Americans whose income is little affected by Payroll Taxes. 1.) We merely need to increase Income Tax rates and reduce payroll tax rates. 2.) A new President could also make this income transfer from working people to the wealthy far worse by increasing Payroll Taxes to support Medicare costs. The first tax increase fixes our economy, the second one destroys it. Quite a difference.