Greenspan talks about current issues such as Medicare, The Fairtax, Taxes, and the current state of our economy.
Name:
Anonymous2007-10-18 22:33
although its an interesting idea, lets look at the expenditures overall:
6-7% sales tax local level
+17% national income tax
Firstly, this would reduce the overall tax on poor people, if we look at the average household paying something like 30% tax.
However, the rich are taxed upwards of 35%. Plus, its a known fact that most money that the rich has is "invested" which usually means its sitting in a trust fund somewhere. This money doesn't change hands often, if ever, and the growth of the trust fund only benefits those that do invest.
The problem is that too many of the rich in this country are not spending enough, or that the places they do spend have little to no "trickling down" throughout society.
Social Security is fine, the US would do a whole lot better if we cut some of our ridiculous defense budget.