The Other Side

soupsoup:

mikehudack:

Taking the tax burden off the middle class and placing it exclusively on the shoulders of those who earn more than $600,000 is a shitty idea. It’s a shitty idea because it significantly reduces incentives for personal success — incentives that drive our economy forward. The American Dream and all that.

Thankfully, Obama’s tax policy is much better thought out than all that.

Yes, because people will stop trying to earn more money because they’re going to pay more taxes.

This does happen.  Several of the European low countries feature much less personal ambition because of their overly progressive tax structures.  Note that I say “overly” progressive.  I’m not suggesting that we implement a regressive tax, and I’m not saying that a progressive tax is a bad idea.  A progressive tax is a good idea.  But picking a magic number (say, $600,000) and eliminating the tax burden below that number and increasing it above that number is a bad idea.

Cite Arrow reblogged from soupsoup
22 notes | | Sep 8, 2008
  1. saitamazihen reblogged this from bowfolk
  2. scttkrkwd reblogged this from seagull and added:
    i’m dealing with...similar issue with my father....doesnt...
  3. soupsoup reblogged this from mikehudack and added:
    Ok, this is my fault for not being...clear. Obama isn’t completely taking
  4. 3rdworldgirl reblogged this from soupsoup and added:
    I think that people tend to forget that the average American makes about $48k a year. That’s average, which means that...
  5. evandenlinger reblogged this from soupsoup and added:
    Are people morons? How is that a good idea? If YOU were making 600k+ a year would you think that was fair? Flat tax...
  6. erikonymous reblogged this from soupsoup and added:
    “Incentives that drive our economy forward”? Like it’s been driving forward for the past eight years? The notion that we...
  7. brianvan reblogged this from seagull and added:
    thoughtful and relevant essay...state of US politics. Please follow the above link
  8. mikehudack reblogged this from soupsoup and added:
    This does happen. Several of the European low countries feature much less personal ambition because of their overly...
  9. shorterexcerpts reblogged this from soupsoup and added:
    And let me add (and I’ll repeat this probably until my fingers bleed over the next 60 days) wages for all but the top...
  10. soupsoup reblogged this from mikehudack and added:
    Yes, because people will stop trying...they’re going to pay more taxes.
  11. gotdatkevinnealon reblogged this from mikehudack and added:
    i’m calling bullshit on that. who opts to make less money because it means paying less in taxes? are people waking up in...
  12. leeshiebean reblogged this from seagull
  13. mikehudack reblogged this from soupsoup and added:
    Taking the tax burden off the middle class and placing it exclusively on the shoulders of those who earn more than...
  14. soupsoup reblogged this from seagull and added:
    folks making $600,000 or more. I think thats...pretty solid idea, considering
  15. seagull posted this