From: utzoo!decvax!harpo!floyd!whuxlb!eisx!npoiv!houxm!mhuxa!mhuxm!mhuxv!mhuxd!cwc
Newsgroups: net.taxes
Title: Progressive taxes?
Article-I.D.: mhuxd.60
Posted: Wed Apr 27 09:54:30 1983
Received: Thu Apr 28 03:57:19 1983


Are so-called "progressive taxes" really progressive, or are they only
so for wage-earners and even then only to a point?  My feeling is that
they are a big hoax hiding behind a "tax-the-rich" smoke screen.

As my income has crept into supposedly higher brackets, and as I have
managed to add "unearned" income, i.e., other than salary, it seems
as though I am able to find more ways to shelter my income from Federal
taxes (all legal, too).  For the last several years, I have received
refunds from the U.S. Treasury despite taking the maximum allowable
withholding exemptions.

At the same time, I have owed the State of New Jersey larger and larger
amounts each April.  NJ allows very few deductions and has currently
only two brackets <= 20k, > 20k.  So, you tell me which system takes
a proportionally bigger bite as my income rises.

Chip Christ,  BTL,  Murray Hill, NJ