Larry Lyons opined:
>Income tax in this
>country is a regressive tax - the more you make theoretically the more you
>pay (although with the new tax cuts now that's arguable).
Point 1: I think you meant to use the term "progressive" instead of
"regressive".
Point 2: Tax cuts or not, the rich pay the great bulk of income tax. Always
have. It is *not* arguable. As a side note, the cut in the top tax bracket
will ensure that the top 1% of taxpayers will contribute an even *larger*
share of the total income tax pie(after the cut begins). There have been 10
or 11(I think) top bracket rate cuts since the US income tax was
instituted. EVERY time, EVERY SINGLE TIME, the share of the total income
tax pie paid for by the top 1% has gone UP. Class warfare might make you
sleep better, but it doesn't get the job done.
Dave Fobare
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