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Thursday, September 3, 2009

Income Tax Should Be More Progressive

Here is an issue that cuts across many debates.
People are unhappy about executive compensation.

Solution

Higher tax rates on high incomes.

If John Crookedpants makes 50 million running a company then he should pay a lot of income tax.

People are unhappy about the cost of medical care.

Somebody is making a lot of money providing the care.

Maybe a doctor

He should be paying more income tax.

And also close loopholes.

We need some higher brackets. Maybe they should kick in at $300,000 and go from there.

The treasury needs the money also.

So three issues here would be improved.

Executive compensation
High price of medical care
Government budget

Who is against a higher tax on someone who makes a million dollars?
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