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MagiK, I agree with your last post.
Yesterday, I ranted about the Republican brainwahsings that have happened in the recent past. I am simply attacking the assumption, propogated by a very clever Rebublican party, that the rich bear the greatest tax burden. In theory yes, but subtract all deductions, credits, shelters, floors, and ceilings in the tax code and it's simply not the case.
And, this group that you mention pays 60% of the taxes (I'll note you didn't define the group either) actually owns 95% of the property/capital in the country, so wouldn't you say they're getting quite a discount and are not pulling their weight?
Further example:
Show me someone who owns a Mercedes 500SL and carries insurance and I'll show you someone needing tax advice. The casualty loss provisions in the tax code make any loss to an auto accident deductibe. You can't have a loss if you're insured - the insurance pays obviously. But, without insurance, any auto accident loss becomes deductible. If you're a 500SL owner, you're likely in the 50% tax bracket (state + federal combined). So, rather than paying insurance premiums you can get a 50% policy for FREE. Well, not actually free. We taxpayers absorb it.
[ 11-14-2002, 11:44 AM: Message edited by: Timber Loftis ]
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