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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?


To: JDN who wrote (125279)2/4/2001 2:42:32 PM
From: ecommerceman  Read Replies (1) | Respond to of 769670
 
JDN--maybe you need to read this passage from Dionne's column again:

"The best estimates of Bush's plan show the top 5 percent of taxpayers getting about half of the tax cuts. The top one percent get more than a third. Okay, but don't the wealthy pay the most taxes? Well, yes. But they have also made the greatest gains in the past decade.

"According to the latest Internal Revenue Service data, analyzed by the Center on Budget and Policy Priorities, the top one percent of tax filers saw after tax incomes increase by 24.1 percent between 1989 and 1997, the last year for which numbers are available. On average, their incomes went up from $417,000 a year to $518,000.
They may not like paying those (elder) Bush and Clinton tax increases, but they sure like the economy that followed."

And if the ultra-rich have such an easy time getting out of paying taxes (which is incorrect, btw, even with the massive loopholes passed by their lapdog GOP members of Congress, they still pay higher rates than most Americans), then I'm just SURE that our Republican President and Republican Congress fix it, right???
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Dear ecommerceman: Did you not see my post of the proposed rate cuts? If the rich are getting 70% of the benefits it only means they are currently paying OVER 70% of the taxes, as the rate cuts appear to favor the lower brackets. Do you not realize that the steeply progressive tax rates make it THAT MUCH MORE DIFFICULT for the less than rich to enter those upper STRATOSPHERES?? I was a practicing CPA in an international CPA firm for many years ending at the Partner level, believe me the ULTRA RICH have ways OUT of paying the taxes you are worried about. It is the middle class and those somewhat rich that get the burden and the inability to circumvent it. You think the Kennedys, Mellons, etc etc pay those rates? Forget it, they dont. This whole tax thing is a Democrat SHAM used to try and create class warfare against people such as YOURSELF.