hollombe@ttidcc.UUCP (Jerry Hollombe) (11/13/84)
Once upon a time, a notorious bank robber was asked in court why he chose
to rob banks. His classic reply:
"That's where they keep the money."
Unfortunately, this philosophy also applies to taxation and the middle
class. Poor people don't have anything to tax. Rich people are a small
minority of the population, so taxing them doesn't make much of a dent.
Real life example:
Some years ago I was living in England. At the time, a "soak the rich"
philosophy was being applied to the usual budgetary problems. Those in the
higher tax brackets were getting hit with a 90% income tax (and you think
*you've* got problems? (-: ). In spite of this there was considerable
public and parliamentary pressure to raise their taxes even higher. At
this point, some cooler heads got out their calculators and figured out
that, even if the wealthy were taxed at 100% of their income, it would only
add a few hundred millions more to a budget that was lacking billions.
The middle class always bears the hardest burden of taxation. That's where
the money is.
Now, before those of you polishing your flame-throwers start in, let me
point out that I'm not happy about this situation at all. As an aspiring
member of the middle class, it troubles me greatly that my next salary
increase may not equal my next tax increase. I'm simply pointing out what
I believe to be the realities of the situation.
What really annoys me is that no one on either side of the economic debate
is seriously talking about eliminating waste. A recent government
sponsored study clearly demonstrated that the DoD alone could eliminate
$450 BILLION in waste over the next three years simply by instituting
ordinary cost accounting and auditing procedures. Neither Mondale nor
Reagan has ever said ONE WORD to suggest they have any intention of doing
such a thing. Mondale and Ferraro at least made some noises about "getting
$1 billion worth of defense for $1 billion". Reagan hasn't even gone that
far, to my knowledge.
Now there's something to write your congresspersons about.
--
The Polymath
(Jerry Hollombe) Opinions expressed here are my own and
Transaction Technology, Inc. unrelated to anyone else's whether living,
3100 Ocean Park Blvd. dead, or imaginary.
Santa Monica, CA 90405
(213) 450-9111, ext. 2483
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