Thursday, September 11, 2008
The issues
The issues I wanted to bring to class involve tax reform. I chose this topic because I haven't exactly made up my mind on it; and in my opinion both candidates have good and bad components to their plans. This is an issue that will effect me during this presidency. Both candidates get a lot of support for these issues and it is one of the more talked about concerns of the election.
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3 comments:
Charles,
I know very little about tax reform but I liked that you are choosing to write your paper over this subject because you are not sure which candidate you want to side with yet. I think it is very interesting that when you decide which person you want to support in their plans including tax reform, that it will make up your decision for who you wish to be the next president. Good luck in making up your mind and researching further into the issue.
Charles, the debate about how to tax the country has been ongoing since taxation began. The Democrat and Republican views are exceptionally different on the issue. Both policies, as you said, have good sides and bad sides for the American people. I hope the next President finds a way to please us all, although that is far too idealistic.
Taxes are what penalizes those who work hard to earn money by taking it from those that earned it, and giving it to those that did not. The american tax system, while extremely complex and complicated to the outside observer, is in all reality, quite simple and easy to use/understand. The problem is that the vast majority of people base their opinions on federal tax structure, from which the government receives very little net income. THis is complex, because it was designed for an accountant to do, and thus, in some cases, uses complex formulas to determine tax rates. Corporate tax is very simple, just as capital gains tax is simple, it is a net percentage.
If the structure changes much from where it is now, we will all have to completely re-learn a new system, which is never the way to go. The adage "if it ain't broke, don't fix it" applies wonderfully here
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