What stimulus is really all about
How about a billion-dollar tax break for Paul Allen? (Via TaxProf Blog.)
| Posted at 6:39 AM | Permalink |
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Comments (6)
Rich folks, regardless of party, are going to game the system.
We need to repeal the Reagan tax cuts and to pass a *higher* inheritance tax to recoup the ill gotten gains of the last 30 years.
Beyond that (and with apologies to H&R Block), deep six the entire income tax code. Give us an aggressive, progressive tax code with nothing beyond personal/dependent deductions.
Posted by East Bank Thom | February 20, 2009 7:56 AM
How about no deductions at all? Just pay a percentage based one your income level and move on. Have it automatically deducted from your pay. If you make money, you pay taxes. Simple.
Posted by Jon | February 20, 2009 9:49 AM
Is this story correct? I'm seeing some commentary suggesting it is way off base. Here, for instance.
Posted by Pete | February 20, 2009 10:02 AM
It take a lot to stimulate Paul.
Posted by Bark Munster | February 20, 2009 11:24 AM
Jon, i'd accept that too. But at least with the personal/dependents deduction, you're being fairer to single income couples and it serves to make the income tax more progressive (i.e. least onerous on the poorest income earners).
Posted by East Bank Thom | February 20, 2009 1:14 PM
Let's scrap the whole stimulus cuz one rich dude makes out good. Maybe.
Posted by mp97303 | February 20, 2009 1:57 PM