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URL:  http://boards.fool.com/ltltheres-an-idea-double-the-standard-26869840.aspx

Subject:  Re: Is your 401(k) Inadequate For Retirement Date:  8/2/2008  11:38 PM
Author:  SeattlePioneer Number:  13776 of 19222

<<Here's an idea. Double the standard deduction and the personal exemption. That way a family of 4 can be making $51,400 before they get hit with income tax. They're already paying the payroll tax. Then we change the rates back to what they were in 2000 except for keeping the 10% bracket. >>


Oh, come come. Democrats in the 1970s created the whole Alternative Minimum Tax system because they said that "Everyone should pay at least some Federal Income Tax." They didn't want a handful of high income people escaping income taxes, so they created a second redundant income tax just to carry out that principle.


I'm sure you'd want to apply that principle just as much to low income people as high income people, wouldn't you?



Seattle Pioneer
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