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Originally Posted by host
I cannot agree with you, Will. Not when half the country owns just 2-1/2 percent of all of the assets, and the top marginal rate on income above $400k per year has been reduced from 90 percent in 1960, to less than 40 percent, today. A progressive tax that is just a bit higher than the certainly reasonable income tax structure that was in place in 1999, would cause no hardship and it would help to lower the deficit. A 7-3/4 percent withholding from folks who make less than ten bucks an hour, is already quite enough, IMO.....
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Host in 1960 that tax law was crazy, so in 1960 if I earned 400k I would net 40k for the year, while someone earning 60k would net more? No wonder it was changed, not only wasn't it fair but completely asinine.
And the people earning $10 dollars an hour have fica withheld so they have that little safety blanket called social security when the retire or they die trying and their spouses need it.