I read this article concerning the tax rate and am a bit surprised at what it had to say. It makes sense that the smaller the tax base, the higher the tax rate must be. However, when they say that we can cut our taxes in half if there were not so many deductions, credits and other tax loopholes, one may get excited. I know that was my first reaction. Then after thinking about it, I am one of those who benefit from several deductions (work related). Therefore, the idea of all personal income being taxed is not so appealing. This is exactly my point in writing this blog. Often politicians tell us of these wonderful programs or ideals that will benefit everyone and at first they appear to do so, but after crunching some numbers they tend to not be so beneficial for most of us.
Posted by Connor at 10/14/2005 11:14:00 PM