>>>Really curious about something Bill - my wife and I combine to bring in a little over 200 boxes of ziti a year. Should we be forced to pay more?
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>>I've repeated this many times here, but here it is again:
>>I advocate a 95% tax on estates valued over $10 million.
>>90% tax rate on income over $10 million.
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>Ever stop to consider what will motivate someone to earn that much, if that person knows the government will come along and seize 90%?
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>Or - is that the idea - to prevent someone from making that much to begin with? :)
As I told JR, when I began my career, rates were in that range.
I never saw anyone try not to make money - we were hungry SOB's.
However, we looked frantically for ways to spend money in ways that gave us the best tax advantage.
I joined an expensive country club - the expenses were deductible. Each dollar cost me pennies.
My company gave me an expensive car.
We gave employees large salary increases - Uncle Sam was funding most of them.
When things changed, being a practical fella, I resigned from that club.
Just look at salary growth since Reagan.
Anyone who does not go overboard- deserves to.
Malcolm Forbes, Sr.