On Sat, 11 Jan 2003, Jordan Hayes wrote:
> The "Income Tax" is pretty progressive at this point (and getting
> moreso)
How do you figure getting more so? Didn't the first Bush tax cut make it less progressive (for at least the next 10 years) by lowering the upper bracket rate? And won't this one make it less so still, by excluding more upper bracket income from taxation?
> now we just need to make progress on the progressiveness of the FICA and
> Medicare taxes. I'd like to see FICA be some percentage of income above
> $N and below $M where N > $25k and M < $150k or something like that.
Sounds great. Unfortunately, when was the last time a candidate ever got elected (or re-elected) by saying he was going to raise taxes? Especially on that electorally key $75-$150,000 group. We could "save social security" in an afternoon if the entire political class didn't regard such a raise as electoral suicide.
Which is not a knock on your idea, with which I entirely agree. I'm just wondering how it could be done.
Michael