Posted by
CKHustler on Thursday, January 22, 2009 11:54:42 PM
I was thinking and a thought came to me...just wanted to know what some others thought of it.
Congress would vote on a set of rates the certain tax rates could fall under. For example they could vote that the top income tax rate would fall inside 34%-39%. The actual rate would be under the control of the Federal Reserve. This way they could see how the economy is doing and easily help the economy with a slight change in the tax rate, much like the interest rate. This could be a way to immediately help an ailing economy. Congress takes too long to get anything done and they never know the correct moves anyways. This would put the immediate power of tax rates in the hands of people who watch the economy as their job, not parade around DC making promises.
Thoughts?
"All that is necessary for evil to triumph is for good men to do nothing" Edmund Burke