[fabsroman]

I can only think that the article is a joke. If that is actually what Nancy Pelosi said, she has got to be the dumbest person on the planet, or at least tied for the honor.

Taxing 80% to 100% of a person or corporation's profit would essentially make that person or corporation decide to stop making a profit. Yep, that would be great for the economy. If they start taxing what I am making at an 80% rate, you can bet that I will stop working. I'll also stop spending money on a lot of things that keep other people employed.

Essentially, what she is trying to establish is a communist/socialist type of government. They are going to redistribute the wealth so that everybody gets the same amount. Now, I think we saw how well that worked in the USSR. Honestly, she must be out of her mind. This country's problems started in the last 100 years, when we had the World Wars and when the income tax came into being. It has just been getting worse ever since. Before that, we were unified on getting certain things completed (e.g., expansion, evolution of the economy). Now, we are retarded.

It won't be long until China takes over as the world power.

Okay, I did some research and snopes says that Nancy Pelosi did not say anything like what is posted above. I also read some of her quotes, and she does make sense. She is against a national sales tax, which would be a very regressive tax instead of the progressive tax that we have now. A national sales tax would mean that the poor and middle class would pay a greater percentage of their income in taxes than the wealthy because the poor and middle class would have to spend most of their money every year just to live and by spending the money they would be taxed. Essentially, it is a consumption tax. Since the rich would be able to keep money in the bank and would not have to use as much of their income to survive, they would pay less in taxes.

This is what is so wrong about our nation. We are so quick to look at the other side as the enemy, instead of doing something that actually helps our nation as a whole. She is for tax cuts that will help the poor and middle class, which most of us on this site are in. The tax break on dividends was great, but that only applied to people that had enough money in stocks to be able to put the money into dividend earning stocks and switch it out of stocks that earned money through growth. That would save 5% on income tax (i.e., Dividends are taxed at 15% and Capital Gains are taxed at 20%). Of course, if you are like most people and merely have money in a bank account earning interest, you pay the standard income tax rate on that interest which is usually 25% unless you are really poor. I would be willing to bet that most of us on this board have more money in our savings accounts/CD's than we have in a brokerage account, and when I say a brokerage account, I do not mean a retirement account because those accounts are either tax deferred or tax free (e.g., Roth IRA).

She also goes on to state that we need to work on the nation's deficit. Guess what, I agree. When our deficit is $8,000,000,000,000.00, and a lot of it is owed to foreign countries, there is a serious problem. Last I checked, the US didn't have the ability to declare bankruptcy.

I just want the nimrods in Congress to get together and do something under the guise of common sense, instead of democrat or republican politics.

For the Republicans to propose a flat tax or a national sales tax, is utterly irresponsible for the poor and middle income families.