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Milton Friedman
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<blockquote data-quote="Tex Pro" data-source="post: 443502" data-attributes="member: 3298"><p>I took it to the logical (extreme) conclusion, just like you did when you claimed the USA would become a third world country if we had lower taxes. We are both arguing from extremes.</p><p></p><p>I am, however, certain taxes could be lowered (at least some) on the personal income tax. The ultra-rich already pay very low tax rates because a lot of their wealth is taxed as long term capital gains (20%), and they have a myriad of ways to claim deductions to lower their effective rate even more. </p><p></p><p>I just want all working people to have taxes closer to that tax rate. Sure, it would involve some belt-tightening budgetwise, but in the long term it would be better for the economic health of the USA.</p></blockquote><p></p>
[QUOTE="Tex Pro, post: 443502, member: 3298"] I took it to the logical (extreme) conclusion, just like you did when you claimed the USA would become a third world country if we had lower taxes. We are both arguing from extremes. I am, however, certain taxes could be lowered (at least some) on the personal income tax. The ultra-rich already pay very low tax rates because a lot of their wealth is taxed as long term capital gains (20%), and they have a myriad of ways to claim deductions to lower their effective rate even more. I just want all working people to have taxes closer to that tax rate. Sure, it would involve some belt-tightening budgetwise, but in the long term it would be better for the economic health of the USA. [/QUOTE]
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