Talking Taxes

Our agenda was light and standard last night, but we did talk taxes. Let's talk taxes here, too. I know you have an opinion; let's hear it!

No one likes taxes.
No politician gets elected by enthusiastically proclaiming "I'm raising taxes!"
Everyone has concerns - legitimate concerns - about wasteful spending of tax dollars.
But right now, our local and statewide schools are hurting, badly. We need tax dollars to spend with discretion and accountability.
In 1954, marginal federal tax rates for the highest earners were 91%! Marginal tax rates, of course, means that the tax rate applies ONLY to the amount of money earned over that level -on the first portion of the money, folks get taxed the same as everyone else who earns that money.
Here's an example: the first $8075 EVERYONE makes is taxed at 10%. If you make up to $34,000, then the difference between $34,000 and $8075 is taxed at 15%. And so on and so forth - if you want to see the whole chart, check this out...http://www.moneychimp.com/features/tax_brackets.htm
And what is the highest federal tax rate today? Even for folks who make millions a year?
35%.
Right now, we have folks running for public office who are advocating the elimination of the state income tax. This is a bad idea, no matter what side of the aisle you're standing on.
No one likes taxes, but we need to pay them, and hold those who spend the money accountable.