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Politics : PRESIDENT GEORGE W. BUSH
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To: Kenneth E. Phillipps who wrote (514495)12/22/2003 2:28:20 PM
From: DizzyG  Read Replies (1) of 769667
 
I have several problems with your argument.

First, let's look at who actually pays taxes in this country.

1. According to IRS data, the top 5% of wage earners pays 53.25% of ALL Federal Income taxes in this country.
2. According to IRS data, the top 10% of wage earners pays 64.89% of ALL Federal Income taxes in this country.
3. According to IRS data, the top 50% of wage earners pays 96.03% of ALL Federal Income taxes in this country.

irs.ustreas.gov

Alas, ANY tax cut becomes a tax cut for the "Evil Wealthy" because the top 50% of wage earners already pay 96% of the income taxes. The "poor" that you claim are hurt by tax cuts pay no taxes at all.

Note: If you want to talk about REAL income redistribution, I direct your attention to the "Earned Income Credit".

Second, tax cuts DO NOT cause budget deficits. Politicians cause deficits by spending WAY too much money on idiotic pet projects.

So the question now is why would such a misleading argument be used? The only reason I can see is that it is used as a vote-buying mechanism for those politicians that want to prey upon the "uninformed".

Diz-

PS: I would also like to point out that Robin Hood did NOT steal from the "rich". Robin Hood stole from the "excessive government" because of HUGE, UNFAIR taxes.
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