http://www.irs.gov/formspubs/article/0,,id=109877,00.html
Rate for single filing:
$28,400-$68,800 = 25%
$68,800-$143,500 = 28%
$143,500-$311,950 = 33%
$311,950+ = 35%
What you will see is that people who make lots of money pay a higher percentage of income tax than people who little money. All the tax cut did was to lower the rates on the upper income brackets by a few points. They are still MUCH higher than lower income brackets. And somehow that is inequitable? To who?
The Medicare and Social Security issue is all about political courage- or the lack thereof- in Washington. Doesn't matter if you are talking about Democrats or Republicans, they are ALL going to vote in favor of these programs right up until the day the system becomes insolvent.
>In sum this administration and the Republican Congress have presided
>over the biggest, most reckless deterioration of America's finances in
>history. It includes a feast of pork, inequitable and profligate tax
>cuts, and a major new expansion of Medicare that is unaccompanied by
>any serious measures to control its exploding cost. Even before the
>new prescription drug benefit, Medicare accounted for 3/4 of America's
>stunning multi-trillion-dollar unfunded liabilities. It's almost as
>if today's Republicans have decided that a legitmate goal of
>supply-side economics is to increase the supply of government.
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