Posted: 12 February 2010 at 6:30pm | IP Logged | 4
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Marc, Was the tax rate the only factor for the success of the US economy in the 1990s and thus the cure for ails us now? It couldn't have anything to do with the peace dividend from the end of the Cold War, the economic decline of Japan, the Workforce Investment Act that got people off welfare and back into the workforce, the overheated dot.com investment bubble or dozens of other issues? As for the rich -- whom you say "have more and therefore should pay more" -- what qualifies as "rich" in your definition? Do you mean "rich" as calculated by liquid capital, or by investment capital, or by fixed goods capital, or by inventory assets holdings? After all, there's a big difference between the small business owner and a trust fund baby, but depending on how you add the sums both can be equally "rich". What taxes shall we impose? Shall we have property tax, value added tax, sales tax, payroll tax, health insurance penalty tax, social security tax, worker's compensation tax, federal income tax, state income tax, excess tax, windfall profits tax, fuel tax? I'm certain I'm missing a few... Oh, yeah: business improvement districts, abatement districts, assessment districts, millrates, water management districts, airport improvement fees. That got them all? No, but you've got an idea we've got lots of fishing lines in the pond. Now what do you want to do with all the money? Lots of different programs and activities, why choose? Let's do it all. Oh, we're a little short. That's okay, we'll borrow the rest and pay it back later. Next year already! Short again? Well, let's borrow some more. Oh, here's a few more good ideas! Short again? Well, let's borrow some more... Marc, this business is a little bit more complex than "make the rich pay".
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