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the american plutocracy
"LG" wrote in message ... bpuharic wrote: On Sat, 9 Oct 2010 11:06:11 -0400, wrote: In articleabydnTRIjvxu4i3RnZ2dnUVZ_tadnZ2d@giganews. com, says... Why don't we just go back to a time when we actually had a good economy and do things like they did? During Eisenhower's tenure the top tax rate was 91%, during Nixon it was 50%, and now we are arguing about whether it should be 35% or 39.6%. Anybody see a trend? Your are trying to say that higher marginal tax rates equal prosperity? How about we go with a flat tax. the right loves a flat tax because it hits more of the disposable income of the middle class than it does the rich more of the reason why the US is becoming a plutocracy The Government (local, state and federal) get 15% and no more. At the end of each year the government gets 15% of each individual's and corporation's gross revenue. The local, state and federal governments can fight each other for their part of that 15%. There are no other taxes. No sales taxes, no real estate taxes, no excise taxes when I purchase new tires. and what happens to defense, etc., in a recession. the right lives in a bubble of fairy tales and delusions and 15%? the US govt spends 20% of GDP now. where you gonna cut 25% of govt? go ahead. tell us I forgot...what sort of boat do you have these days? Historically the Fed's spend about 20% of GDP. They are at about 40% currently, and going higher. The only time we even approached this level of spending was during WW2. We have to cut government spending and that includes Social Security and Medicare. those 2 items alone make up 39% of the Federal budget, while SS and Medicare taxes contribute about 42% of the Fed's income presently. We have both priced ourselves out of the a lot of the world market, and the Government entities are taking most of the credit capitol available. With little money available for business to start or expand, how are we going to get jobs? I was on Treasure Island today watching the Blue Angels for Fleet Week here in San Francisco. Looking at the replacement eastern span of the SF-Oakland Bay Bridge I see the 2 or 3 deck spans already installed. Where were they made? China and barged over here. Even the local government entities are not supporting US manufacturers. Why? Cost? Politics? Idiocy? Combination? |
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