Letters to the Editor
-
Remember the Laffer Curve
It sure sounds good, raise taxes on the filthy rich. Guess what? It doesn't work. The higher the tax rate, the more people have an incentive to avoid taxes. And, in fact, the top 1% of earners are paying a bigger share of the tax burden now than they did during the Clinton era.
Think about it: If you're paying upwards of 100,000$ in tax, you have quite an incentive to hire an expert to figure out how to cut that burden.
The current tax system is such a mess of exemptions, exceptions, definition, and regulations that even the IRS can only make a rough guess at how any change will change revenue.
The real challenge is not figuring out how to land someone else with the burden of paying for all US Gov't "services" but to cut spending. Chop pork. End subsidies to enormous factory farms, stop building bridges to nowhere. And, of course, stop funding the war in Iraq.