[reaganaut1]

I appreciate the sentiment but fear that this would be portrayed as an endorsement by conservatives of tax rates up to 50%. I favor lowering the maximum rate to at least 33%.

[Brookhaven]

"I appreciate the sentiment but fear that this would be portrayed as an endorsement by conservatives of tax rates up to 50%. I favor lowering the maximum rate to at least 33%."

You are confusing the federal tax rate with total taxes. Fed tax rate 39% (Obama plan) SS tax 15% (Obama plan to eliminate upper limit) State taxes 10% (higher or lower depending on state) --------------------- Combined tax rate 64% Do you see the problem now? A small business person under Obama is going to easily be paying 60%+ of their income in taxes. Capping TOTAL taxes at %50 percent would effectivly reduce the federal tax rate of the sample small business person above by 14% (down to 25% federal tax rate.)

[Brookhaven]

“I appreciate the sentiment but fear that this would be portrayed as an endorsement by conservatives of tax rates up to 50%. I favor lowering the maximum rate to at least 33%.”

Reposting because of formatting problem (hope I get it right this time.)

You are confusing the federal tax rate with TOTAL taxes.

Fed tax rate 39% (Obama plan)
SS tax 15% (Obama plan to eliminate upper limit)
State taxes 10% (higher or lower depending on state)

---

Combined tax rate 64%

Do you see the problem now? A small business person under Obama is going to easily be paying 60%+ of their income in taxes. Capping TOTAL taxes at 50% percent would effectivly reduce the federal tax rate of the sample small business person above by 14% (down to 25% federal tax rate.)

[from occupied ga]

I favor lowering the maximum rate to at least 33%.

How would you feel about a flat tax of 15% ON EVERYBODY?