By the way.... Check out how social security was accounted for.... in the new proposal.... This means the deficit of over $3 Trillion that will happen in 2010.... Will be even higher.... I like Obama.... But he needs a better plan.... This one will not make things better.... Smells like EuroJapan....
When New Zealand introduced a consumption tax (GST) in 1986 of 10% (now 12.5%) it enabled the top tax rate to be reduced from 66% to 33%.
I've posted this before: albeit, drunk and still drunk. But what's the point of a tax system when using fiat standards? I mean, sh*t let the gov post their wants and let the markets price the monetary policy.
Wow. Stay drunk. That's the first post I've ever read, here or anywhere else, that exactly described reality. I'll have what the gentleman on the floor is having...
You should really read Upton Sinclair's "The Jungle" The rights that people take for granted in the US (40 hour workweek, OSHA, FDA, USDA, etc.) did not come about due to generosity of corporations, but as a result of struggle for worker's rights. Both socialism and communism grew out of perceived inequities of the Industrial Revolution. Since many people don't know history, they assume that certain concepts are outdated (Unions for example) and life can only improve (everlasting progress) If your fundamental life philosophy is that workers are trash and "rich people" in their infinite wisdom dispense wealth upon the lesser human beings then you are inclined to believe that taxation of the rich is the most important thing. People like me, perceive society as an interconnected and interdependent mechanism. The "rich" need a stable society built upon the rule of law with excellent infrastructure and educated hard working employees. The "rich" are not doing anyone any favors by employing others, it is a mutually beneficial transaction expertise for money. P.S Instead of complaining, your wife should be grateful to live in the US and not in Romania for example. If US did not have 21st century "White man's burden" more money could be allocated towards making college and graduate school free.
Here is the general reality of the situation: US got into an unprecedented (and artificial) position in the world just after WWII. However, most of the advantages conferred by that period of "magic" were spent "duking it out" with Soviet Union for the right to be called number one. During that time, LBJ (bless his heart) embarked upon an ambitious program to cure many social ills that plagued the nation. The "great society" was an honorable concept. Then came degenerate by the name of Ronald Reagan and decided to wage the Cold War on the cheap. He reduced the top tax rate from 70%+ to 28% and jacked up the military budget. If you truly want to starve the federal government and if you truly believe government is the problem, jacking up its most wasteful portion is the way to go! The end result was the tripling of the national debt. The simple reality is that US simply cannot "have it all". Social security was frequently raided to pay for other programs. Social Security, Medicare, Medicaid, US Imperial delusions, cannot be sustained. US Congressmen, however, don't realize this and think you can maintain the Empire and the top marginal 35% tax rate plus the social entitlements indefinitely. All of it has to go and a new overriding objective of paying down the national debt needs to be priority.
I read "The Jungle" back in middle school. Personally, I'm a Libertarian Capitalist.... I was once poor... not even eating regular. Did something about it. Got a job as a janitor. Wanted better. Did something about it. Wanted to be wealthy. Did something about it. In America we can choose to be mediocre or even fail. Grandpa used to say, "the world doesn't owe you a living"... I believe in Grandpa's Wisdom. College for free? Bullshit! Earn your way or do without! 2% of Americans already pay 62% of the income tax. Yet you GREEDY Socialist Bastards want even more.... What about taking responsibility for yourself and your future? Where's your gumption? America is already TOO Socialistic. The NObama adminstration will send us over the cliff... onto the rocks at the bottom. All of us..