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Politics : The Republican Crash 1999 -- Ignore unavailable to you. Want to Upgrade?

To: TH who wrote (57)	12/13/1998 2:57:00 PM
From: Stock Watcher	Respond to of 609

Don't forget: In 87' Reagan brought the top tax-rate down to 27% and eliminated 99% of tax-shelters. This tax-code revision lasted one year thanks to "read my lips" Bush. Now, top Fed tax-rate is 41% plus State taxes and "penalty" taxes (if the Dems think you're making too much $). If you live in NYC, you pay 51% combined taxes between Fed, State and City tax. Fairness is a thing of the past. Envy, jealousy and "a chip on the proverbial shoulder" rule the day. Excuse me, but isn't the USA a "risk-reward" society where ambition, imagination and monetary incentives are supposed to fuel progress and pursuit of wealth (the American Dream) ? Then, why do we punish successful people with ridiculously high tax-rates ? Maybe, it's because more and more people are thinking that no one should have more than they do. If that's the case, they should vote for communism (gee, that experiment worked-out well - didn't it) ? This country is moving toward socialism - and it's mostly because many uninspired Americans believe they're "entitled" by birth to have the same material possessions as those who work hard and take chances. There's no logic anymore. It's emotional cry-baby stuff. It's too bad Congress didn't give the 27% top-tax rate a chance to work. OK..maybe the deficit would have been reduced at a slower pace - maybe it would have taken another three years to eliminate it. So, now that the word "deficit" isn't even used anymore, where's the benefit to those who helped wipe it out by paying 41%. The answer is: there is no benefit. It's a one way street. We won't see any real tax-cuts until the pendulum swings the other way......and, unfortunately, that could be a long way down the road.