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Path: utzoo!utcs!lsuc!dave
From: dave@lsuc.UUCP (David Sherman)
Newsgroups: net.taxes
Subject: Re: Abuse of social contracts. (tax system)
Message-ID: <417@lsuc.UUCP>
Date: Sun, 17-Feb-85 02:31:22 EST
Article-I.D.: lsuc.417
Posted: Sun Feb 17 02:31:22 1985
Date-Received: Sun, 17-Feb-85 03:25:42 EST
References: <2748@dartvax.UUCP> <445@ahuta.UUCP> <399@lsuc.UUCP> <287@petrus.UUCP>
Reply-To: dave@lsuc.UUCP (David Sherman)
Organization: Law Society of Upper Canada, Toronto
Lines: 21
Summary: you guys should have automatic indexing

In article <287@petrus.UUCP> hammond@petrus.UUCP writes:
||It came about in the US because when it was first started,
||it really only hit the upper class.  With inflation a good
||deal of the middle class has moved into the progressive region.

That's the fault of your system for not having inflation adjustment
built it. It's part of our Income Tax Act, and happens automatically
in Canada every year. (For example, when the brackets were realigned
effective 1982 to provide for approximately 50% maximum, you hit
that level at $53,376 after all deductions. For 1985 it's $62,160 -
and that's with brackets which were slowed down for two years as
part of our anti-inflation program.)

I understand the reasons indexing has never been desired in the
U.S. is because Congress wants to look good every two years by
"lowering" tax rates in an election year.

Dave Sherman
-- 
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