Comment: Start by looking back over 90 years in our history to see why the 16th Amendment to the Consitution was passed. The PRIMARY reason was wealth redistribution. All other forms of taxes were found to be regressive which was found to hurt the economy. Nobody was asked to pay any tax if their income was less than TWICE the average income. The top bracket started at $500,000 when the average income was $1000. In our nations history, the top bracket has naver been lower than it is today (without correcting for inflation). If today's brackets were set with the same approach as was initially used, nobody making less than $50,000 would pay income tax. There would be at least 6 tax brackets with each bracket increasing by 5 to 10%. The top bracket would start at about $10,000,000. Wealth redistribution is needed now more than ever. Twenty five years ago, top CEOs made as much in a month as middle class workers made in a year. Today, top CEOs make much more in a month than middle class workers make in a LIFETIME. Tax increases on the rich in the early 90's by Bush and Clinton were found to help the economy. They also were found to be an excellent investment for the rich as the rich got much richer while the middle class saw only modest improvements. Thanks for the chance to speak out, Bob Gould Palm Desert, Ca. |