🚀 go-pugleaf

You miss one important fact. If the tax rate is lowered, then the
economy will expand at a greater rate thereby producing more income
that will be taxed.  In affect you will be increasing tax revenue.
Look at 1980 -1992.  This period had the greatest tax revenue growth
in the nations history all due to a tax cut.

Let reality set in....


skg@sadr.com (Keith Graham) wrote:

>acahalan@jupiter.cs.uml.edu (Albert D. Cahalan) writes:

>>skg@sadr.com (Keith Graham) writes:

>>> For whatever it's worth, the vast majority of the taxes paid in this
>>> country are by the top few percentage of wage earners.   We'd hardly
>>> notice if the bottom half of the families (ranked by income) stopped
>>> paying taxes.

>>That is the misconception right there.  While someone poor may not
>>pay much, there are many poor people.  There are very few rich people.
>>If you could charge the rich 100% it wouldn't make much difference.

>No.  The bottom 50% pay less than 2% (I think) of the total taxes in this 
>country.  If we were to let them stop paying taxes, everyone else's
>tax bill would go up 2% to cover it.  "Poor" people don't pay taxes
>on their standard deductions, and then the marginal rate on the small
>fraction that's left is much lower than the rate on those of us making
>much more money. 

>>> The top 10% is paying something like 75% of the taxes
>>> in this country, and the top 50% is paying something like 98%.

>>Nope.  The top 10% is not rich, maybe the top 1% is rich.
>>That of course depends on your definition, but most people
>>would put most of the top 10% in the (upper?) middle class.

>That's leaves a very large "middle middle class".  But the statement
>stays the same; if you noticably lower the marginal rate on the
>"upper middle class and the rich", you'll noticably increase
>the tax burden on the "middle middle class" (and possibly the poor.)
>As I recall, among married couples, the top 10% is around 100k per year,
>but that number is pulled from long lost memory, and may be completely
>out of date.

>Keith Graham
>skg@sadr.com