Srexely, do the math. If the top 1% of income earners pay 36% of the taxes but MAKE 43% of the income, and the bottom 50% pay almost nothing, then the middle 49% of wage earners are making 57% of income (minus the percentage earned by the 50% who pay almost nothing,) AND YET PAYING ALMOST 64% OF THE TAXES.
So who is it that's unfairly taxed. Is it the top 1% who are paying less than their share of taxes on each dollar they earn, or is it the middle income earners who are making up the share of the rich and the share of the poor who pay almost nothing?
Yet who benefited most from the tax cut of Bush? Hint, it was the top 1%.
Who is going to pay off an even greater proportionate share of the borrowing that is funding, in part, these tax cuts for the wealthy? Hint, look to the middle class who are SUBSIDIZING the tax burdens of the poor AND THE RICH.
The ONLY way to justify giving away tax money to the wealthy was that it was THE BEST WAY to jump start the economy and create jobs. As I've pointed out in previous posts, however, the structure of the tax cut was NOT designed to maximize job creation or jump start the economy. It was purely and simply a restructuring to reward and perpetuate the wealth of the few at the cost of the middle class who already bear a disproportionate share of the tax burden.
Whose your buddy now, Srexely? Huh, is it Bush? |
