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<blockquote data-quote="sillco" data-source="post: 25937" data-attributes="member: 42"><p>I am a middle of the roader. I don't vote party. But I do realize our tax system is not repersentative of our wealth. The top One percent of the highest income earners pay 34% of this nations tax bill. That is a big burgen on so few. I am not suggesting we reduce that burgen, I am only suggesting that we even the balance of the load across the board. Also the Corporate tax structure should carry more of the load, they are the winners in today's ecomonic picture, not the indiviual tax payer.</p><p></p><p>I will also remind us that at one time we had a 90% tax bracket for that 1% of high earners and that has dropped to less than 45%. However, they had "loopeholds" that would allow them, as a "passive" investor, to invest in small business without being involved on a day to day basis and for taking that risk they were allowed to write off the cost of doing business (expenses) and any losses against their indiviual tax bill. That is how small business was funded, but they, the small business, could not goblize the world, hence the change to the stock market to fund the large corporations for world goblization. Today an investor in a small business, including a ranching operation, must maintain an "active" status to enjoy the same writeoff as the past, then, only if the alturnative minium tax formular allows them to take the write off. We in small business with only a plan, (banks will not loan money on a plan), with little collateral have a hard time to get needed funds today compared to 1986 when the top bracket was 50% and the tax structure was changed for goblization. I would argue that this change made life much harder for the little business person to get the needed capital to form interprises. The tax system encouraged those with the money to invest in those that had little money but had a good idea and business plan while giving the investor a reward for taking the risk. This forms a win-win situation. I believe the tax change of 1986 is contributing to the large growing gap between the lower and higher income earners which is reducing our middle class.</p></blockquote><p></p>
[QUOTE="sillco, post: 25937, member: 42"] I am a middle of the roader. I don't vote party. But I do realize our tax system is not repersentative of our wealth. The top One percent of the highest income earners pay 34% of this nations tax bill. That is a big burgen on so few. I am not suggesting we reduce that burgen, I am only suggesting that we even the balance of the load across the board. Also the Corporate tax structure should carry more of the load, they are the winners in today's ecomonic picture, not the indiviual tax payer. I will also remind us that at one time we had a 90% tax bracket for that 1% of high earners and that has dropped to less than 45%. However, they had "loopeholds" that would allow them, as a "passive" investor, to invest in small business without being involved on a day to day basis and for taking that risk they were allowed to write off the cost of doing business (expenses) and any losses against their indiviual tax bill. That is how small business was funded, but they, the small business, could not goblize the world, hence the change to the stock market to fund the large corporations for world goblization. Today an investor in a small business, including a ranching operation, must maintain an "active" status to enjoy the same writeoff as the past, then, only if the alturnative minium tax formular allows them to take the write off. We in small business with only a plan, (banks will not loan money on a plan), with little collateral have a hard time to get needed funds today compared to 1986 when the top bracket was 50% and the tax structure was changed for goblization. I would argue that this change made life much harder for the little business person to get the needed capital to form interprises. The tax system encouraged those with the money to invest in those that had little money but had a good idea and business plan while giving the investor a reward for taking the risk. This forms a win-win situation. I believe the tax change of 1986 is contributing to the large growing gap between the lower and higher income earners which is reducing our middle class. [/QUOTE]
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