[cherry_bomb88]

At Ole 88's bequest, I am posting some facts that I dispersed in my oral presentation tonight in class that got the liberal democRats all peeved off

My report was on "tort reform" I merely pointed out (and these are documented facts) that Tort Costs in the year 2001 were $205 billion (yes, billion with a "b") accounting for 2.04% of the GDP (Gross Domestic Product)That is a figure that has rose consistantly every year.

In contrast, the War in Iraq is going to cost us an estimated $70 billion accounting for far less than 1% of the GDP

By contrast, Viet Nam cost 12% of the GDP, WWI 24% of the GDP and WWII 130% of the GDP (yes 1 3 0 %)

The estimated cost per American for the war is a "whopping" (note sarcasm) $260 per person. HOWEVER, because our tax brackets are so "fair" (note further sarcasm) the cost per family is skewed....

The bottom 11% of earners pay no taxes; hence will pay $0 for the war
Bottom 20% of Tax Payes will pay $33 per family
Top 5% of Tax Payers will pay $4700 average per family for the war The Top 1% of Tax Payers will pay $13,000 per family

Those figures are based on the fact that the top 5% of tax payers, while earning only 28% of the income, pay 50% of the taxes. The top 1% of tax payers, while earning only 14% of the income pay 29% of the taxes.

Anyhow....that was my little "soap box" for tonight....made a few libs uneasy....oh well!

[cherry_bomb88]

*side note, the tax figures & per family cost of the war were not part of my report, my instructor spoke on that tonight (thank God he's a conservative) and I used the handouts he gave to post those facts here for the comparison I gave the class when we were "discussing" things.

[goldilucky]

Those figures are based on the fact that the top 5% of tax payers, while earning only 28% of the income, pay 50% of the taxes.

That could be true. I know of somebody who made 90K a year and had to pay 17K of taxes. Talk about thievery.

The top 1% of tax payers, while earning only 14% of the income pay 29% of the taxes.

How interesting.

Just remember that those who created this funny money that we all pay tax "interest" on don't pay taxes. I'm talking about those who created the federal reserve. Those who created the federal reserve own the world! We are all slaves to them!

[sultan88]

"Tort Costs in the year 2001 were $205 billion (yes, billion with a "b") accounting for 2.04% of the GDP ... In contrast, the War in Iraq is going to cost us an estimated $70 billion accounting for far less than 1% of the GDP..."

Request permission to use this information in a letter to the Richmond Times-Dispatch.