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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (143266)	10/26/2008 1:33:31 AM
From: Steve Dietrich	Read Replies (2) \| Respond to of 173976

Tim, you're missing some important points. Every worker pays payroll taxes, starting with the first dollar they earn. It's a regressive tax that the federal government counts as general revenue in its budget. Making any argument on the income tax alone, is dishonest, willfully disingenuous. Furthermore, the tax burden on the wealthy has gone down, not up. Don't take it from me, take it from the Wall Street Journal: online.wsj.com In a new sign of increasing inequality in the U.S., the richest 1% of Americans in 2006 garnered the highest share of the nation's adjusted gross income for two decades, and possibly the highest since 1929, according to Internal Revenue Service data. Meanwhile, the average tax rate of the wealthiest 1% fell to its lowest level in at least 18 years. The group's share of the tax burden has risen, though not as quickly as its share of income. This is another reason the case you're trying to make is fundamentally dishonest. And finally, when you consider that the top 1% of Americans own 33% of our total wealth you can see that far from being too progressive, our tax code is actually regressive. SD