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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (46999)	10/9/2004 4:33:12 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

Liberal pundits like Kerry should be thanking wealthy Americans.Although the average tax rate on the top 400 fell, one has to go to the original IRS report to discover that their share of total income taxes paid rose by 50 percent, from 1.04 percent in 1992 to 1.58 percent in 2000. In other words, the richest of the rich paid more and everyone else paid less. This information is not surprising to those who know that the top 1 percent of taxpayers have increased their tax share almost annually, from 19 percent in 1980 to 27 percent in 1988, despite the Reagan tax cuts, and to 37 percent in 2000. Interestingly, the same pattern holds in other countries. • In the United Kingdom, the top 1 percent of taxpayers paid 23 percent of income taxes this year. • In Canada, the top 1 percent paid 24 percent in 2001. • In Australia, the top 5 percent of taxpayers paid 27 percent of income taxes in 2000. Bruce Bartlett