Author:
Chad Herbert
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Date Posted: 12:50:13 05/16/03 Fri
I couldn't agree with you more on your taxation column. You hit it right on the head, only you forgot to adequately address the class warfare and disinformation that goes with tax cuts.
When you hear the cliché "richest 1%" you think Bill Gates, Donald Trump, etc... Yes, they are rich... OK the mega-rich, but they are the exception to the norm. The "richest 1%" on average make more than $313,469 and the "richest 10%" make $92,114 (Summary of Federal Individual Income Tax Data, 2000).
According to the IRS, in 2000, the top 10 percent of income earners (those families making $92,144 or more are considered "rich" in the mind of a liberal) now pay 67.3 percent of the federal income tax, but earn 46 percent of total income. In contrast, the bottom 50 percent of taxpayers pay just 3.9 percent of the taxes, but with a much larger share of income...
The top 1 percent already pay 37.4 percent of the federal income tax burden, though they earn less than a 21 percent share of national income." - "Tax cuts for the rich are precisely what's necessary to lift the economy". No, the rich don't pay their fair share.
My family income is between $50,000 and $60,000 (before taxes, of course) and I don't think that is that great. Holy cow, batman! If my wife and I end up making $15,000 more a piece in the next few years I'll be rich! Come on. The poor don't pay any taxes and reap the whirlwind of the gov't benefits that the average Joe is raped of (i.e. pays in taxes) by the taxman to further the "progressive welfare state." John Smith had it right. If you don't work, you shouldn't eat. The poor don't create jobs to provide a living for others. The "rich," or your average Joe small business owner does. Give him a break in the tax-burden he DOES pay and he'll make more jobs by trying to increase his own wealth. Now that is capitalism at its best. Doing something out of "selfish" self-interest (create wealth) and at the same time help society (give someone a job). Instead, we're continuing to head down that slippery slope where the "rich" have to hide their money overseas or yachts or art (material things that don't create further wealth or benefit society past the first purchase) so the gov't can't take the cash from them. The top federal tax rate in 1981 under Carter was 70% - 70% of what you made Uncle Sam took!!! That sure would make me want to be successful - not so I can be successful but so the bum on the street can sell his food stamps for a bottle of booze or crack. Secretly Ironic-We're All Above Average (1-12-03)
You also got the withholding - no withholding tax revolution right. While not exactly the same, it is relative - the Tennessee Tax
Revolt of 2001.
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