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Pastimes : THE SLIGHTLY MODERATED BOXING RING -- Ignore unavailable to you. Want to Upgrade?

To: Neocon who wrote (14291)	6/6/2002 2:49:37 PM
From: goldworldnet	Read Replies (1) \| Respond to of 21057

The Rich Shoulder Most of the Tax Burdens By DAVID KLINE Before we start bashing "the rich" over a recent IRS report on tax evasion, let's remember that the wealthy people of this country pay for more than half of our government spending. According to the IRS, the wealthiest 5 percent of Americans pay 53.8 percent of the country's total income taxes. The bottom 50 percent of earners pay just 4.4 percent of total federal income taxes. Put another way, the rich pay for more than half the military, more than half of federal education spending, more than half of the federal court system, and more than half of every other federal program. If the federal government starts giving free prescription drugs to seniors, 53 out of every 100 pills will be paid for by the wealthiest 5 percent of taxpayers. And that's not even counting the other taxes paid by the rich. They also keep the government running with huge payments for value-based property taxes, car taxes, sales taxes, travel-related taxes and, eventually, estate taxes. What about those stories about rich people who "don't pay any taxes"? Tax-and-spenders like to spread these tales without including details that explain why it's perfectly legitimate for a small percentage of wealthy Americans to avoid taxes in a particular year. An IRS review of high-income tax returns for 1998 provides these details: "The four categories with the largest effect in reducing taxes on high-adjusted-gross-income returns with no worldwide income tax were the investment interest expense deduction ..., total miscellaneous deductions ..., partnership and S corporation net losses...and medical and dental expense deductions." Casualty and theft loss deductions also play a large role in reducing the tax burden for some wealthy Americans, the IRS said. These are the same deductions that can be taken by the rest of us. The IRS also reported that in 1998, only 1.8 percent of those with incomes over $200,000 had tax of less than 10 percent of expanded income. Of the others in this tax bracket, 78 percent gave the government 20 percent to 35 percent of their income. Then they paid state income taxes and other assessments. Sure, there are tax cheats among the rich. And there are tax cheats among the poor and middle class, as well. For every millionaire who hides money in the Cayman Islands, there is a waitress who doesn't report her tips and a family man whose accountant creates deductions out of thin air. That's just human nature. While the government should continue trying to stop the dishonesty with auditors, it also should attempt to reduce fraud by convincing people that their tax dollars are being spent wisely. Most Americans don't mind paying their fair share for legitimate government expenses, but they are more prone to cheating if they know their hard-earned money is being wasted. To convince us that our taxes are being used properly, the government must perform some belt-tightening. When a prison inmate gets a $1 million transplant at the government's expense, taxpayers have a right to be angry. When an artist gets paid by the government to paint offensive pictures, taxpayers have a legitimate beef. When people use food stamps to buy soda and potato chips, taxpayers know they're being used. People don't hate taxes, but rich or poor, they do hate letting people take advantage of their labor. And if they feel like they're being cheated, they are more likely to cheat, too. Paying taxes is the duty of every American citizen. Making sure the money is used properly is the duty of every elected official. Neither party should be let off the hook for shirking the responsibility. metnews.com * * *