[geeks] Taxes

[Lionel Peterson]

>From: Sandwich Maker <adh at an.bradford.ma.us>
>Date: 2008/05/23 Fri AM 09:44:25 EDT
>To: geeks at sunhelp.org
>Subject: Re: [geeks] Taxes

>" From: Lionel Peterson <lionel4287 at verizon.net>
>" 
>" []
>" 
>" I saw an interesting report last night that analyzed actual tax
>" reciepts as a percentage of domestic earnings, and oddly, no matter
>" what the tax rates were (91% down to the current "Bush Adjusted" tax
>" rates that "benefit the wealthy"), the gov't took in about 19.5% in
>" tax revenue. When the tax rate is higher, people find ways to reduce
>" their tax liability, when it drops, there is less incentive to do so...
>
>yeah, but shifting that burden from folks who can't afford to pay to
>folks who just don't want to is not unfair.

What? I don't follow - as I understand it, the 19.5% tax rate suggested isn't across-the-board, applied to every dollar earned, it is applied just as taxes are today, every dollar above a certain amount is taxed, but not at a progressive rate, instead a fixed rate of 19.5%. For example, the first say, $40K is tax deductable. You would only pay 19.5% tax on earnings over $45K.

Lionel