Stephen Russell wrote: > On Mon, Oct 27, 2008 at 10:42 PM, Michael Madigan <[EMAIL PROTECTED]> wrote:
> Are you really making a quarter or a mill and have to worry? Few if > any of my clients or friends at church will be over that mark after > the final exemptions and credits are taken. Hi Stephen! I guess you missed this: http://www.taxfoundation.org/research/show/23319.html "The Obama plan assumes little behavioral change from such a large tax hike on high-income workers. Is this realistic or will the higher rates encourage tax minimization strategies and reduced work effort, which will lead to lower tax revenues?" In the '50s the tax rates for the richies were an eye-popping 90+%, but they actually paid nothing, or next to nothing, through "tax planning". The loopholes are still there, but hardly worth using until the rates go up again. Reagan found that reducing the top rate increased revenue, this is why. -- Regards, Pete http://pete-theisen.com/ _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
