Re: The 'working poor' scam

From: Jim Blair (see_at_sig.com)
Date: 07/01/04 

Date: Thu, 1 Jul 2004 18:49:03 +0000 (UTC)

"tonyp" <tonyp@world.std.com> wrote:
>
>"Jim Blair" <see@sig.com> wrote
>
>> If there IS a "normal tendency of earnings (ie incomes) to rise with age,
>> why is that not upward income mobility?

"tonyp":
>
>
>It is because you say so, but it's not the kind of "mobility" that justifies,
>say, cutting the top marginal tax rates or abolishing inheritance taxes.
>
>-- Tony P.
>

Hi,

The Hubbard study does not deal with different "kinds" of mobility, just
with the changes in the incomes of individuals. But note that it is not
just that individual incomes rise with age, (which they do) but also that
an individual's quintile status (relative to everyone else) also tends to
rise with age.

What "justifies" cutting the top income tax rate? What "justifies" having
any particular top income tax rate? What "justified" cutting it from over
90% to 28%? Or increasing it back to almost 40%?

As for that inheritance tax, that is just a jobs program for lawyers.
Anyone can avoid it by hiring one.

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