Why when Hussein Obama wants to raise our taxes and redistribute the wealth, are his nominees all tax cheats?

Income tax in USA is higher than in India. In India also, upper tax level used to be over 90% just after independence. First major cut in taxes was introduced by the ex-finance minister Mr. Chidambaram.

He simplified tax structure to 10%, 20% and 30% and the result was increase in tax revenue due to better compliance. What is needed in USA is not the increase in tax, but its restructuring so that lower income group has to pay lower percentage of taxes and higher than present to the much higher income levels. Since 50 years I had been thinking on what should be the tax structure and more I think more I am getting convinced that "income-tax should be abolished" from individuals as well as corporates and replaced with "net savings tax".

The concept is to charge those whose wealth increases. If the people spend money, they end up paying less taxes. This will increase money circulation and boost the economy.

Also, filing of tax returns will get simplified. Of course, the concept needs more thought and how to implement it so as not to leave loopholes and make it more welfare oriented. Edit: Clarification on my tax suggestion: My suggestion of savings tax is different from wealth tax or estate tax.

What it means is that if in a financial year, a person earns $ 500,000/- and spends $ 400,000/- saving $ 100,000/0. He has to pay tax on his savings which if it is @ 10%, he will be required to pay $ 10000/-. On the contrary, if a person earns $ 1000,000/- in a year and spends $ 980,000/-, he saves $ 20,000/- and will be required to pay $ 2000/-.

Thus, more you save, more you pay. One does not pay anything on accumulated savings. Each year savings tax is paid and that's all.

Thereafter, one is not required to pay tax. So in that sense, it is neither a wealth tax nor estate tax. Estate tax is abolished in India and wealth tax is considerably reduced.

Edit: Explanation why it would not hit people in old age. The reason why I advocated savings tax is because there are people who are unable to save despite economising and still they end up paying heavy taxes. In my life time, I have paid more taxes than what I could gave to or spend for my parents.

Many times, I had to bank upon my savings for some emergency expenses because I had no savings after paying the taxes and that reduced my previous savings. Also, when a person pays savings tax it is only a part of the savings paid as tax. The remaining savings is not to be taxed anytime in future.

So, if one saves $ 10000/- and pays $ 1000/- as tax, he saves $ 9000/- for old age on which he will not be required to pay tax anytime. In my suggestion to abolish income-tax, I also include wealth-tax. Suppose, a person has saved $ 1000,000/- before retirement and gets a pension of $ 2000/- per month and has to spend $ 4000/- per month, the remaining $ 2000/- comes from his income from the savings.

If on his savings, he earns $ 3000/-, then after spending $ 2000/- from it, he has a net saving of $ 1000/- per month which is $ 12000/- and may have to pay $ 1200/- as tax. However, if his pension + earning from savings = $ 3500/- and he spends $ 4000/-, he saves nothing and his wealth reduces by $ 500/- per month and he pays no tax. Edit: To answers some of the points raised by you in additional details.

If you're rich enough, you can create a charitable trust fund and put your money in it. Then appoint your heirs to administer the distributions from the fund, getting paid to do so.

No. What we need to do, explained correctly, would not be post-able due to Yahoo's word count limit. Here, however, is a start....Close all government social programs.

Charity took care of such needs before and can do it again IF and that is a big IF donations were to start coming in again as they did in the past before Congress decided to tax We The People and compete with Charity. An 89% average of all charitable donations go to those in need. Five (5) cents of every tax dollar spent on social programs goes to help the needy.

Need I say more? Stop the tax dollars handout to "Puppet Regimes"! Stop spending money on worthless research.

No one needs to know half the "knowledge" gained by 2/3 of the research being done by those in Academia, "knowledge" that is not useful and most likely never will be, except to line the pockets of some prof. Who went to college and never left. I'd give you the link to my blog but Yahoo frowns on that..........My blog can easily be found by anyone that is deserving of 6 gigs per second.

EDIT: In the darkest part of this nations history we bread humans for size and strength the outcome of which (praise GOD) has been a majority of said humans as our most successful athletes. What will be the outcome of a "dumbing down the masses" liberal education system? Wile I am responding I would like to say I have never listened to a rush Limbaugh radio show , read any of his books the same goes for others such as him.

I think for myself, do my own research and my blog offers no links except to business, The Library of Congress, and other such Historical Archives. All things considered Top contributor at Yahoo is not something I would brag about.....Your not all that and in closing I never asked for a tax cut and if your kids are in need do something about it; Stop whining to those of US who actually pay taxes. Try not to smoke so much of your students "tobacco" in the future.

I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.