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I am in favor or raising the ceiling for the earned income credit. That gives some relief to people who are working and earning money and trying to support themselves through their own efforts. Although many people are making statements about the package already, this writeup is pretty thorough:
Los Angeles Times Staff Writers
October 26, 2007
WASHINGTON — The lead tax architect in Congress on Thursday unveiled a sweeping package of cuts and increases, which could become the blueprint for the Democrats' initiative to overhaul the tax code and restore what party members view as fairness in the U.S. economy
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I am in favor or raising the ceiling for the earned income credit. That gives some relief to people who are working and earning money and trying to support themselves through their own efforts. Although many people are making statements about the package already, this writeup is pretty thorough:
Los Angeles Times Staff Writers
October 26, 2007
WASHINGTON — The lead tax architect in Congress on Thursday unveiled a sweeping package of cuts and increases,(...)
Moderator cut: do not repost copyrighted articles
Charlie Rangel = Moron. His tax plan will hit the middle class really hard. He can go to hell. These tax increases devastate the economy. When will idiots like this learn that?!? Sheeeesh!
Taxes were way higher than they are now throughout most of the second half of the twentieth century, while we were ascending to prominence as the "ultimate superpower..." I don't think the economy'll be "devestated," especially considering the whole thing's supposed to be revenue-neutral. America has close to the lowest taxes in the industrialized world (we're always on some extreme side of everything in the developed world, for some reason).
The article conflicts over who gets hit with a tax increase, but I certainly favor the rich paying a higher share of their income in more taxes. After all, famous billionaire Warren Buffet easily agrees with me. He took a survey of his office employees and found out the percentage of income that they have to pay in taxes was about double his own. Buffet also doubts that the economy would suffer if the rich had to pay more taxes.
Charlie Rangel = Moron. His tax plan will hit the middle class really hard. He can go to hell. These tax increases devastate the economy. When will idiots like this learn that?!? Sheeeesh!
His tax plan CUTS taxes for 90 million taxpayers, and pays for them by raising it in millionaires. Millionaires won't take the expense of moving a corporation overseas to avoid a tax increase. I have the feeling that you didn't even read the article.
I generally think the plan isn't bad, but want to see all of the details first. The AMT is terrible, it really needs to be fixed. I would be in favor of leaving standard deductions in place and reducing some tax increase on the wealthy.
Why sympathize with the wealthy and their taxes? Is it because their monthly mortgage payment on their mansion is $10,000, the second vacation home is $5,000 and their monthly Mercedes car payment is $2000? As a mid income earner, it's not my fault they chose to live life that way.
Why sympathize with the wealthy and their taxes? Is it because their monthly mortgage payment on their mansion is $10,000, the second vacation home is $5,000 and their monthly Mercedes car payment is $2000? As a mid income earner, it's not my fault they chose to live life that way.
It has to do with risk, effort and reward. I simply have a very strong belief in the capitalist system, with some reasonable safety nets, and believe that those who achieve shouldn't have their wealth confiscated via tax policies. It isn't a matter of sympathy to me, it is a matter of being fair.
Why sympathize with the wealthy and their taxes? Is it because their monthly mortgage payment on their mansion is $10,000, the second vacation home is $5,000 and their monthly Mercedes car payment is $2000? As a mid income earner, it's not my fault they chose to live life that way.
Their life style reflects their income just as yours and mine does. Remeber its not their fault we are not rich like them.
Everyone should pay an equal percentage for taxes just like state and loca. Its the only fair way.
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Rangel = moron.
