[Am-info] Off Topic Question

[Mark Hinds]

>>2. Social Security is simply a tax, not a market competive pension plan. I'm
>>   not certain of this and will investigate further, but assuming it is 
>>true,
>>   then SSI is really a tax and should NOT be capped
>>   ie 12% * 1.0e+6 = 120,000, not 8,800.
> 
>     I'm not sure what you're saying here.
A guy making a well deserved $1,000,000 pays no more SS Tax than
a guy making $68,000, about $8400 a year.

http://www.ncpa.org/pi/congress/pd011999d.html


> 
>     Not all companies provide goods and services that are included under 
> sales taxes. Corprate taxes are indeed passed on to consumers one way or 
> another, but I'm not against them - I'd rather see coporations pay the 
> taxes and consumers be free of that burden.
I'm not proposing a sales, sales taxes SUCK big time. I'm proposing to eliminate
Corp Taxes and shift it all to personal income taxes. I'd like to see mandatory
price role backs to account for the reduced tax burden that Corps would receive,
I realize this is may not be easy.


> It's more than some people 
> can figure out, and it would be more efficient to have several hundred 
> thousand companies send their taxes in to the government than have to 
> process some half-billion personal income tax claims.
Are you proposing to eliminate personal income taxes?
> 
> 
>>4. Should not the personal FIT rate simply be a linear function of income 
>>capped
>>   at say 70%? That would bring the top tax rate from about %38 to 70 + 
>>12 = 82%.
> 
> 
>     Too high... I'm not exactly sure how you arrived at the end figure, 
> but that's at least twice the level that I'd tax anyone at.

I'll be quite blunt. No one deserves to take home more that a few million
bucks per year. Call it socialism, call what ever you like, but the cost
to our society, to our democracy is simply to high. We can't afford so many
hyper overpaid poeple.