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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (65167)	4/7/2018 12:52:57 AM
From: i-node	Read Replies (2) \| Respond to of 362585

When FDR's administration and Congress designed the SS system, and later, LBJ's and Medicare, why do you think they didn't tax investment income, capital gains, etc., and taxed only the first little bit of wages (originally, the tax was 1% for each the employer and employee, on the first $3,000 in wages). Today, of course, the total tax is 15.3% on $128,000 of wages. But why not on investment income?

To: Steve Lokness who wrote (65167)	4/9/2018 12:17:21 PM
From: TimF	Read Replies (1) \| Respond to of 362585

Its not like we have a balanced budget, or a good long term fiscal situation without the VAT and the VAT would be extra money for extra things. Or to look at it another way, the Europeans mostly have VATS, and even with them, and with lower defense budgets, they mostly have poor long term fiscal situations. A VAT without any significant new spending could help clear up the fiscal situation a bit, but I'm not sure you could have a large enough one without causing some real economic harm.