Saturday, February 21, 2009
Interesting Tax Proposals from The Strata-Sphere
One of the blogs I read regularly is The Strata-Sphere. Today he has some interesting proposals on taxes and sharing the pain of the current economic conditions. They make too much common sense, like cutting the capital gains and business tax, to ever be implemented. They are though worth reading and thinking about. He proposes that nobody under 18, or 25 if in college, pay medicare or social security taxes. These people if they get a better education will make up the few years of non-payment and their extra income will help pay for school as well as put money in the economy. He also proposes that all people pay some sort of income tax, even if it is a moderate amount. We have a constant fight about that in Alabama as basically the system has been updated so that the highest tax bracket starts at about 18K. I never have been a fan of the Earned Income Tax Credit, and this would probably be one way to end it. Anyway, read his post here and see what you think.