Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Kenneth E. Phillipps who wrote (514495)	12/22/2003 2:22:57 PM
From: CYBERKEN	Respond to of 769667

Excessive payments to Social Security welfare queens robs the middle class of money they should be using for education and retirement. The limits of our toleration have been surpassed...

To: Kenneth E. Phillipps who wrote (514495)	12/22/2003 2:28:20 PM
From: DizzyG	Read Replies (1) \| Respond to 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.