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Politics : Libertarian Discussion Forum -- Ignore unavailable to you. Want to Upgrade?

To: Richard Babusek who wrote (2931)	5/27/1999 7:39:00 PM
From: Don Lloyd	Read Replies (1) \| Respond to of 13056

Ricardo - (...For example (one that Joe six pack could understand); taxing income at 50% for anything over say $100,000. causes a gap in the actual incomes that are possible to make (profitably). So when I'm worth (and paid) that much, I can't earn a 10% raise till I can get someone to pay me $220,000. - Heaven forbid my supervisor should get upset with me and give me a Nickle raise!...) It isn't clear whether or not you believe that the standard US progressive tax rates are applied retroactively on a first dollar basis. (They aren't, you fill out each tax bracket successively.) The nickel might prevent you from qualifying from a Roth IRA conversion, but it shouldn't normally affect your taxes except for the granularity of the tax tables. Regards, Don