Posted on 01/28/2008 5:43:14 PM PST by Kaslin
Tax Policy: The "rebate" side of the economic stimulus package would split the nation about equally between payers and takers. Will we now get a taste of class warfare to come?
When it comes to federal income taxes, Leona's "little people" have been migrating off the rolls in large numbers for a couple of decades. Now it's the "big" (i.e., rich) people who pay most of the tax bill, as studies cited on this page and elsewhere amply show.
Nothing wrong with the rich paying their fair share — which by definition will be a large share, since, after all, they're rich. But what's happened since the 1980s has not simply been an upward shift of the tax burden into higher income brackets. It's something more socially and politically insidious: a sharp contraction in the share of the public that pays any income tax.
(Excerpt) Read more at ibdeditorials.com ...
Hey - something is wrong here: I pay income taxes, and I am NOT rich ... something is going on here and I want to get to the bottom of it right now!
You are, according to the Dims...
If you do not live in public housing or a trailer park then you are one of the evil rich.
Or perhaps we should explore further why the spike in middle class whom are in the low or no tax bracket in the first place. It’s called wage stagnation by exporting jobs overseas. So a very few got very rich and a hefty portion of the middle class can still make $12 an hour, a wage I used to make when I was 20 in 1990. I believe America is looking a lot like the French Revolution occuring all over again. Washington feels this too and knows they must do something (hand out of my FICA) before the heads roll. Great, I get to get $1,200 back after paying $30k out of $120k pay it took all my life to get too. Can we change the useless tax system now and simplify it? How about subsidizing job creation in small business which makes up the majority of US business these days and WE KEEP THE MONEY IN AMERICA.
btt
Very good analysis. I have thought of this many times.
By eliminating those low skill, but higher paying middle incomes you have created a larger under class that go to the voting booth and vote themselves a living.
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