ijusluvit: You *do* realize that it was getting RID of the 90% tax brackets that contributed to the greatest economic expansion thic country ever saw, yes? When you make it so that dollar earned has the government taking MORE THAN HALF, you have provided two major disincentives - One, the disincentive for making it (why bother if the government is going to take half?). Two - drive the economy underground so as to evade taxation.

This is why Reagan's tax cuts provided such a jolt.

And as far as the problems you have with 'the bonus structure', let me tell you something. You may have an argument with 'the fatcats', but speaking as one of the lower-level employees of Fidelity Investments in the 1990s, I can tell you that a lot of middle class people DEPENDED on those bonuses. At least at Fidelity, they were paid out in early December. If you were really good, you could get as much as a month's pay in one lump sum. Let me tell you, that made Christmas shopping a lot easier I certainly was NO millionaire - I didn't even make $50,000 back then, and had a wife and two kids that I was supporting.

VK: I've heard of the VAT and although I'm not fond of it, I'm certainly willing to listen. One of the knocks against it (again, from what I've heard) is that the government can bury tax hikes, hiding them, in effect.