Democrat Thinking

[M.T. Pockets]

I'm a working stiff myself, and I am usually pro-business. Like most on this board I started with nothing, working for a little over minimum wage until I had opportunities to advance.

Fabs, you can help me with the details on this.

I can say now that I believe there has never been a better time to be a tax payer. A working family with two kids pays very little, if any, income tax on the first $40,000 or so of income. The standard deductions and personal excemptions have been increased to the point that not many people itemize anymore, and they're much better off with the higher standard deduction. With the child tax credit you get a couple grand back off the top of what is taxed for having kids. I know that I earn twice what I did 10 or 15 years ago, and pay less taxes.

Most of the withholding people see goes to FICA, and most families don't start paying Federal Income tax until they're earning around $40,000 gross. Then it is a relatively low percentage.

A Federal Value Added Tax scares the bejiggers out of me because I know what would happen. We'd have both an income and sales tax. Don't think it could happen ? Ask anyone who lives in a state that adopted a "temporary" sales tax like Minnesota did a couple generations ago and watch it increase from 2% to 6.5%. It's not called temporary anymore. Oh, yes. We also have the second highest income tax in the Country.