Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP
Posting-Version: version B 2.10.1 6/24/83; site teldata.UUCP
Path: utzoo!watmath!clyde!burl!ulysses!mhuxl!houxm!hogpc!houti!ariel!vax135!cornell!uw-beaver!teltone!teldata!tac
From: tac@teldata.UUCP
Newsgroups: net.politics
Subject: Re: Do the rich pay their fair share? - (nf)
Message-ID: <306@teldata.UUCP>
Date: Mon, 16-Apr-84 12:18:55 EST
Article-I.D.: teldata.306
Posted: Mon Apr 16 12:18:55 1984
Date-Received: Tue, 17-Apr-84 07:22:30 EST
References: <327@iuvax.UUCP>
Organization: Teltone Corp., Kirkland, WA
Lines: 41

, (sop to the blank line eaters--consider it a religious sacrifice)

We seem to have a problem with income (Taxable or Adjusted Gross or
whatever) versus millionairs.  Just because a man (or woman) has
$1,000,000.00 or more in the bank does not mean that that person
received it as income this past year, and should be taxed on that
full amount.  How would you feel if the tax regulations told you to
add all of your savings (including pension plans, etc.) to your income
then taxed you on the *TOTAL*?  The average millionair is probably
making 20-25% interest on most of his money, but the total worth of
the person is how they were billed as a millionair.  The total worth
includes holdings in companies etc. which may not show any income
until they are sold some years down the line.  Even if we take the
25% figure on $1,000,000.00 for each of them that is only $250,000.00
which could be construed as income.  Given that much income I feel
certain that I could find enough worthwhile investments which receive
more than 1:1 tax deductions to cover my *COMFORTABLE* living expenses.
The thing which seems to be missed is that those "tax shelters" are
usually good for the economy or the country (not always mind you, just
usually).  So here we have someone receiving much money each year, but
giving or investing most of it into something which will aid all of us
as well.  Sound like a bad deal when put that way?  I personally feel
that the investments will do more good than giving the money to our
government to spend.

Now about the complaints.  How many of you took a tax deduction this
year?  Gee, I don't see anyone who hasn't raised his/her hand.  I had
the impression that many of you thought it a sin to take a tax deduction.
Ohh, you mean only when someone making more money than you does it.  I
see.  There are many more poor people than rich.  If you don't like them
taking their tax deductions elect representatives to the government who
will eliminate any deductions.  Then the tax rate could be set at a
straight 15% for everyone and we would all do better.  (From a book by
George Hansen, U.S. Representative from Idaho, entitled "To Harass Our
People: The IRS and Government Abuse of Power", 1984 edition.)


	    From the Soapbox of
	    Tom Condon     {...!uw-beaver!teltone!teldata!tac}

	    A Radical A Day Keeps The Government At Bay.