View Single Post
Old 05-22-2011, 11:00 AM   #100
Fair&Balanced
Operations Operative
 
Join Date: Feb 2011
Posts: 495
I think tax simplification is a longer term issue than the immediate need to address the debt.

In terms of temporary higher rates, keep in mind that the 01 and 03 tax cuts were intended to be temporary and to have expired last year. They did little to stimulate the economy and in fact, the cuts to the top bracket were probably the single most significant factor, in terms of lost revenue, in contributing to the debt over the last 5-8 years. A return to the Clinton marginal rate of 39% (as opposed to the current 36%) still keeps the effective rate below your 33% ceiling and the wealthiest taxpayers would still be paying at or near their lowest taxes in 50 years.

In terms of "paying a fair share," that depends on how we define fair. IMO, tax rate equalization is not fair and places a far greater tax burden on those with far less disposal income.

I find the term "zero liability voter" thats been tossed around here (not by you) to be offensive. Anyone who works hard, pays other taxes (payroll, sales, etc) is contributing to the best of their financial ability.
Fair&Balanced is offline   Reply With Quote