Tuesday, December 7, 2010

higher taxes the thrid rail of politics that could power America's economy

I was talking earlier about raising taxes. I would like to note another reason why politicans aren't quick to raises taxes on the rich and that's because the highest tax bracket no longer just covers them. due to a mix of inflation and the fact that in 80's the number of tax bracket where lowered to simplefly them the top income bracket starts at the upper middle class.

Bill Gates is taxed as much as some as the family making $350,000 a year. That family maybe doing pretty well with that income they aren't doing nearly as well as Bill Gates and I don't think they should be taxed the same.

This is simple fixed by adding more tax brackets that cover a higher and higher income groups. The people making $350,000 well be taxed the same they are being taxed right now. Then the group above them a bit more and so on and so on.