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Wilson County News • 1012 C St • Floresville • TX • 78114 • Ph: 830-216-4519 • Fax: 830-393-3219 • Email:
Tuesday, Sep 16, 2014
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Be Careful  
Floresville, TX  
February 23, 2012 11:42am
 
Rambling, since you can’t seem to find information on Google or understand US tax laws, let me simplify it for you: Ability to pay is called Progressive tax and it has been around longer than you. In fact, it is an economic theory first suggested by Adam Smith in 1776 and has been used in the US taxing system since 1913. In 1913, the first year of Federal taxes, there were 7 progressive tax brackets. While you may not believe it, the ability to pay concept has been engrained in American thought and law. Congress has gone even further and people like me have to pay the Alternative Minimum Tax. My tax rate is 10% higher than Mitt Romney. As usual, the political elite pay less. Finally, since Congress has been passing these tax laws since 1913, a reasonable person could conclude the majority or at least those who vote believe in the ability to pay concept.
     
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