Nope. No special privileges. The right thing to do is to not have tax brackets. A flat tax, whether 2% or 30% (the same rate for everybody from after-school McDonald's clerk to oil investor), is much more fair and would bring in a HUGELY increased amount of tax revenue. Why? Ask me why someone might leave rental houses and apartments sitting empty for 3 or 4 years in perfect condition and with tenants happy to move in any minute. Ask me why a factory might have plenty of money and work, to hire 10 more people NOW, but won't since it already has 49 employees... These things go on all day every day, and that's a lot of lost housing, lost jobs, lost tax revenue, and Obama and the Dems will never let the Press write about it. NOT ONLY do we have this goofy tax bracket schedule where people have to pay a bigger percentage for the more they earn (in other words, say you earn $100K, you take home about $70K. But if you earn $130K, you take home $68K. The numbers here are hypothetical, but the formula is FACT. There is a window of income, where if you make more, you keep less. How does that encourage anyone to work harder? It encourages me to pass up business opportunities, and pass up hiring people, and pass up lots of things that might be very nice on the economy. And it really pisses me off when people think "rich people don't pay enough tax". I don't blurt out private stuff on the Internet generally, but peoples' taxes are in fact public record, and there's no reason to hide anything because if someone wants to find out, they can look it up. So sit down... In the tax year 2006, we made a terrible mistake by operating a business which did fine that year, but guess what? It made just enough to knock us into "alt min" (alternative minimum tax), which caused me to have to go stand in line at the post office on April 15, 2006, with checks to the IRS totalling $1,145,000.00. That's right, 1.145 million dollars in taxes for one year, and I'm not even what most people would call "rich". Alt min does not let you deduct for ANYTHING, and as a result, the business venture could not work. And the result of that: A veterinarian, two vet techs, 7 ranch hands, and a book keeper had to go looking for jobs the next January.
Charles
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