Taxes

Taxes

59: TAXES:
Nothing is certain but

death and taxes. Theoretically, there is an optimal level of taxes that maximizes revenues, and minimizes the negative effects that taxes have, by

creating a disincentive to creating wealth. The conservative argument is that taxes are too high, thus creating a disincentive and therefore should be

cut. I believe that taxes are currently too low and need to be raised slightly. We had a progressive tax system but are in the process of reverting to a

regressive system. Our society can easily tolerate increased taxes on the wealthiest members of society (and prominent individuals in this tax group

have indicated that they don't mind paying more). Having myself been in several different tax brackets, I can honestly say that I don't mind

paying the higher taxes as my income level rises. It has been much easier for me to pay higher taxes and still have better quality of life as my income

level has risen. It is when I was poorest that I could not afford to pay taxes. I am thrilled to pay my taxes and to be in a higher bracket. Some of our

most prominent individuals in the highest tax bracket have said that we should not cut their taxes as they can easily afford to pay, and that a tax

break to them does not provide an additional incentive to spend more to move the economy, since they are already spending their capacity to consume.