Consider, for example, two separate eras in the lifetime of the baby-boom generation. For every additional dollar earned by the bottom 90 percent of the population between 1950 and 1970, those in the top 0.01 percent earned an additional $162. That gap has since skyrocketed. For every additional dollar earned by the bottom 90 percent between 1990 and 2002, Mr. Johnston wrote, each taxpayer in that top bracket brought in an extra $18,000.
"Under the Bush tax cuts, the 400 taxpayers with the highest incomes - a minimum of $87 million in 2000, the last year for which the government will release such data - now pay income, Medicare and Social Security taxes amounting to virtually the same percentage of their incomes as people making $50,000 to $75,000. Those earning more than $10 million a year now pay a lesser share of their income in these taxes than those making $100,000 to $200,000."
The privileged classes, with the Bush administration's iron cloak of protection, avoid their fair share of taxes, are reluctant to pay an honest dollar for an honest day's work (the federal minimum wage is still a scandalous $5.15 an hour), refuse to fight in their nation's wars, and laugh all the way to their yachts.
3 comments:
Those who "laugh all the way to their yachts" are paying most of the taxes in this country. We do not want Socialism here, do we? I just love the way the socialist mess with the numbers. The facts are the people in the bottom income brackets are not paying any federal taxes.
You are right, taxes are paid by the middle class - it is an unfair tax system when "Those earning more than $10 million a year now pay a lesser share of their income in these taxes than those making $100,000 to $200,000"
We need a system that is progressive top to bottom. As you make more - you should pay in more.
No, actually most of the revenue generated from taxes comes from the upper 10% of the population of this country. It is not their job to support the rest of this country.
Post a Comment