tag:blogger.com,1999:blog-1096954374118087231.post125004573295420328..comments2023-10-14T15:15:48.816+02:00Comments on The Utah Hornet's Nest: The Schwartzeneger Plan and It's ImplicationsObi wan liberalihttp://www.blogger.com/profile/04425739293622553830noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-1096954374118087231.post-47035854001873634442008-12-21T22:27:00.000+01:002008-12-21T22:27:00.000+01:00I've always wondered what is the maximum marginal ...I've always wondered what is the maximum marginal tax rate lefties think that anyone should pay.<BR/><BR/>If you start adding up the promised Federal statutory tax rate of 39.6% plus the marginal impact of deduction phase outs of 1.5% plus FICA/Self Empoyment/Medicare tax of 15% plus a Utah state tax rate of 5%, it is easy to get to marginal tax rates over 60%.<BR/><BR/>Nevermind sales taxes, property taxes, corporate taxes, the double taxation of corporate income on dividends, estate taxes, etc.<BR/><BR/>So what is the maximum number? What is the maximum marginal tax rate anyone should pay?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1096954374118087231.post-49974254417975830722008-12-21T06:44:00.000+01:002008-12-21T06:44:00.000+01:00Ok, I'll say so. The Utah legislature and governo...Ok, I'll say so. The Utah legislature and governor gave away huge amounts of tax revenue based upon irrational projections. I would suggest that tax cuts should be rolled back. <BR/><BR/>The reality is, you'll see Utah's legislature look for more regressie measures, since poor people don't count to them. Any proposed revenue increases will be fees, fees that will hurt the poor when their ability to pay is substantially repressed. <BR/><BR/>So yeah, my post was meant as a firing accross the bow to the Republican mindset of legislators in Utah. Some of us will be watching closely what they do and will be speaking out about who they decide to harm and who they decide to leave alone during an economic crisis.Obi wan liberalihttps://www.blogger.com/profile/04425739293622553830noreply@blogger.comtag:blogger.com,1999:blog-1096954374118087231.post-45457982522402024522008-12-20T23:06:00.000+01:002008-12-20T23:06:00.000+01:00There is sort of a mathematical identity here we a...There is sort of a mathematical identity here we are talking about. If revenues go down then either expenses have to go down, or you need to raise tax rates, or both. So if in your post you have just taken off the table all compensation of all public employees, then all that's left is to cut only non-compensation expenses or raise tax rates. My guess is that there isn't enough room in non-compensation expenses to make up the shortfall, so what you are really suggesting is we should raise tax rates. Why don't you say so?Anonymousnoreply@blogger.com