A 62% Top Tax Rate?
ksammut
Posts: 1,074 ✭✭✭
A 62% Top Tax Rate?
I know the push for the higher taxes for the wealthy is posturing to some degree but I sincerely hope the politicians, who want these much higher taxes, have a clue that cutting spending is really the way out of this mess.
There is no question that the government needs to collect more revenue but a flat tax on everyone (not just the 50% of us who pay federal taxes) may be the better way to go. Taxing those in the upper income levels higher will lead to a much faster collapse in our economy as small businessmen cut back on expenses (hiring and purchasing).
A flat tax and deep spending cuts are the only way out of this mess but politicians do not have the guts to do the right thing. We are all going to feel a lot of pain and they need to start educating Joe 6-pack that programs they were counting on simply cannot be funded to the degree they were expecting. Joe needs to learn that the government may not be there for him and he needs to be protecting himself and his family.
Every time I read articles like this, I want to rush out and buy more PMs (actually did buy more today). Unless extreme measures are taken, we are going to be in a whole lot of hurt. Make the hard choices now and we will feel the pain but do nothing now to cut spending and not make our tax system more fair will cause the long term pain to be unbearable.
I know the push for the higher taxes for the wealthy is posturing to some degree but I sincerely hope the politicians, who want these much higher taxes, have a clue that cutting spending is really the way out of this mess.
There is no question that the government needs to collect more revenue but a flat tax on everyone (not just the 50% of us who pay federal taxes) may be the better way to go. Taxing those in the upper income levels higher will lead to a much faster collapse in our economy as small businessmen cut back on expenses (hiring and purchasing).
A flat tax and deep spending cuts are the only way out of this mess but politicians do not have the guts to do the right thing. We are all going to feel a lot of pain and they need to start educating Joe 6-pack that programs they were counting on simply cannot be funded to the degree they were expecting. Joe needs to learn that the government may not be there for him and he needs to be protecting himself and his family.
Every time I read articles like this, I want to rush out and buy more PMs (actually did buy more today). Unless extreme measures are taken, we are going to be in a whole lot of hurt. Make the hard choices now and we will feel the pain but do nothing now to cut spending and not make our tax system more fair will cause the long term pain to be unbearable.
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In God We Trust.... all others pay in Gold and Silver!
Everyone from the middle class on down will be in such bad shape that socialism will be the way of the land due to necessity instead
of theology or beliefs.
The direction of PM's is still unknown to some, but if China becomes #1, and the USA falls off the map, then your PM's will be just fine.
Your US dollars....well... we all know where that's heading.