I've got no problem with folks controlling wealth, as long as they paid their
taxes earning it. One rich guy can personally hire 2-3 maids, 1 cook, 3 lawn
maintenance guys, a chauffeur, 1 yacht captain and crew, and in addition,
probably owns his own company that's providing jobs to 25 to 30 people. Not to
mention all the business he gives the Porsche dealer, the 5 star hotels and
restaurants, the jewelry store, the airlines, etc, etc.
Lee Scott wrote:
> I've been lurking for a good while, but felt I just had to jump in on
> this one. Here are the the statistics released by the IRS:
>
> "The Internal Revenue Service has released data on tax year 2003 that
> show the top 1 percent of taxpayers, ranked by adjusted gross income,
> paid 34.3 percent of all federal income taxes that year. The top 5
> percent paid 54.4 percent of the whole, the top 10 percent paid 65.8
> percent, and the top quarter of taxpayers paid 83.9 percent.
>
> In 1980, when the top statutory income tax rate went up to 70 percent,
> the share of income taxes paid by the top 1 percent of taxpayers was
> just 19.3 percent. After Ronald Reagan's tax cut of 1981, which reduced
> the top rate to 50 percent--a massive giveaway to the wealthy, according
> to critics on the Left--the percentage of income taxes paid by the top 1
> percent rose steadily.
>
> By 1986 the top 1 percent of taxpayers' share of all federal income
> taxes had risen to 25.7 percent. That year the top statutory tax rate
> was further cut to 28 percent--another huge giveaway, we were told. Yet
> the share of income taxes paid by the top 1 percent continued to rise.
> By 1992, it was up to 27.5 percent."
>
> See the full article at
http://www.heartland.org/Article.cfm?artId=18402
>
> The idea that the poor pay the lion's share of taxes is absurd. Aside
> from state and local sales taxes, which do tend to be regressive, the
> poor pay almost nothing.
>
> Lee Scott
>
>
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