tag:blogger.com,1999:blog-23020893.post4295426776869789250..comments2023-11-29T10:54:18.810-08:00Comments on - - - Stockerblog - The Stock Market Blog: A Basic Lesson in EconomicsUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-23020893.post-91006544759115767322007-09-20T06:35:00.000-07:002007-09-20T06:35:00.000-07:00I have to wonder what university would give a PhD ...I have to wonder what university would give a PhD to someone who lacks a true understanding of the reality of the US tax system.<BR/>If one looks out the window, rather than watching Fox news, it is easy to see that his example is exactly the opposite of what is happening in America.<BR/>Reality? The wealthy patron gets his beer for free, the poorest patrons may get a beer but only from the kindness of the patrons in the middle. The vast majority of taxes in the US are paid by people in the middle income brackets. Even Warren Buffet was quoted recently saying his secretary pays more taxes than he does. Yes, the wealthy provide jobs for the "lower" classes. But the price the "upper" classes pay for citizenship is drastically out of proportion to the value they receive. So, in his conclusion corrected, the other 9 still have beers when the wealthy #10 stops coming to the bar. Why? Because the men in the middle have always paid for all of the beers they drank. Making the wealthy pay their fair share of taxes will not make them stop earning riches or leave the country. They'll only complain slightly more about their perceived injustice than they do already.<BR/>A man who makes $100 million cries like a baby when he pays $100,000 in taxes... a man who makes $100,000 gets no respect when he pays $28,000 in taxes. Do the math before you pity the wealthy...E.T.https://www.blogger.com/profile/10191950564675067092noreply@blogger.comtag:blogger.com,1999:blog-23020893.post-1495757473685664132007-09-17T05:17:00.000-07:002007-09-17T05:17:00.000-07:00Dr. Kamerschen - Your argument holds water, your c...Dr. Kamerschen - Your argument holds water, your conclusion does not. People who make alot of money do not live in the US because the pay less taxes. They live in the US for any number of reasons but higher or lower taxes will not make them change their citizenship. <BR/><BR/>The only reason lowering taxes can represent higher tax revenue is because people evaluate the cost of paying taxes and the risk of getting caught. As they lose their financial advantage of not paying taxes they start following the law and eliminating the numerous tax scams allowed by our tax code.<BR/><BR/>If we want to fix the tax system we should eliminate all deductions, perks, incentives, et al and go to a straight flat tax without changing the percentages. <BR/><BR/>We could then look at the possibilities of lowering tax rates once we see that tax revenues is actually tied to GDP. The wealthy need the working class to make money otherwise they lose their markets.Small Business USAhttps://www.blogger.com/profile/14970793802047569767noreply@blogger.com