[quote=CA renter][quote=flu][quote=CA renter] With all due respect…Some people aren’t as lucky as you who have a guaranteed government pension that doesn’t need to self-manage their own finances you know… Some people actually have to “work” to have their money grow….Think about that one….[/quote]
Flu,
I do manage our own investments and the bulk of our money came from investments. If taxes were fair across all types of income, we wouldn’t have such a huge disparity in income/wealth in this country. Taking it further, if wages were taxed at a lower rate than investment income, workers would actually be able to dramatically narrow the wealth/income gap between labor and capital. Please explain why this would be a bad thing.[/quote]
CaRenter, how much in taxes is the govt. getting on the first 20-30k of income? Most can wipe that out with some combination of deductions. Low income folks get money back from the benefit for the working poor. My point is I don’t know how much more you could lower income taxes at the low end? Most of those lower income workers pay in nothing as it is.
Now my libertarian hat says that’s a good thing as it puts more money into the economy, but I am wondering what you are defining here? Is it the first 50k in wages?
