June 10, 2005
Jerry Schwegman, Individual
jvschwegman@hotmail.com
Indianapolis, Indiana
General Comment
Present Systems vs. Proposed Systems
The individual’s federal as well as state taxing systems should represent an
equitable transfer of funds from the private sector to the public sector in
order to accomplish the overall needs (safety, security, transportation,
education, welfare, etc) of the people in its jurisdiction. Corporate taxing
systems should follow much the same mandate for the businesses in its
jurisdiction. All these taxing systems should also provide a harmonious
balance between the social needs and capitalistic needs of its respective
society.
When this is accomplished through the taxing systems, more realistic needs
of the society are met. Thus a demand side verses supply side economy
exists answering more to the wishes of its people. How is all this
accomplished through the tax system? Simply stated, taxing systems must
insure that the vast majority of its people live in its middle class or income
brackets. With sufficient adjusted gross data on individuals and truly
progressive tax rates, this gigantic middle class society can be accomplished.
As for corporate taxing, elimination of book verses tax methods and pork
barrel exclusions would level the playing field and provide a true
competitive environment for all its players.
All I read see about the present systems indicate that the poor are getting
poorer and the rich getting richer while the middle class pays for both ends.
Eventually these inequities will have to be corrected given the problems that
will be created. We won’t be leaving much of a legacy for our future
generations if the present taxing environments are allowed to continue.
So the ‘fit’ is simple but does your group and our elected officials have the
‘courage’ to bring about change that will keep this country headed in the
right direction? Appreciate the opportunity to express my views on this
extremely important and sensitive issue.