Quote:
Originally Posted by garentee  In the end yes there are some very big spenders in government and a good bit of corruption and that too needs to be looked at, but it is time for the wealthy to get taxed more... |
I simply disagree with this, anymore, and the reason why is because you can't tax a country into prosperity. Most often, the way it works, is that you raise the tax rate, and those who are really sharp with tax codes figure out the loopholes and get even richer, while those who are simply "providing value" to the economy get screwed. The top corporate tax rate might be 35 percent, but I just read that General Electric (whose CEO doubles as a member of the President's "Economic Recovery Board") just paid
0 percent taxes on $14 billion profit.
No, I really think throwing out the tax code entirely, and starting completely from scratch is in order. Not that
anyone, either businesses or government is ever
really going to let that happen. It's not in their interest to do so, despite what they may say.