Republicans want you feel sorry for the wealthy
- From: Middle Class Warrior <eelder1@xxxxxxxxx>
- Date: Thu, 10 Jul 2008 08:39:20 -0400
In the alternate universe of the Republican, the real victims of society are the wealthy. Why, because they pay the lion's share of the taxes. This is true.
What the Republicans didn't tell you is that the wealthy also take in the lion's share of income and a whale's share of the wealth in the US. The top five per cent of Americans earn about one third of all of the income and the top ten per cent take in nearly 50 per cent. Under these circumstances, it is easy to see why the wealthy pay most of the taxes: they earn most of the income. The distribution of wealth in the US is even worse.
One of the primary functions of the GOP is to assure these special people get to keep more of their wealth. This means less taxes are collected and bigger deficits accumulate. Roads, bridges and levees are not repaired and schools are underfunded.
Are you surprised the Republicans prefer to spend the national treasure on the Armed Services and not on the domestic economy? This is because domestic spending provides more benefit to the average American. Military spending provides more benefit to defense and international corporations and investors.
The Republicans have really done a service to help the affluent. Capital gains taxes have been cut to 17 per cent and billionaires now pay a lower tax rate than the average American. The top tax table has been cut a whopping 57 per cent since the 1960s. Wealthy families are also exempt form the Estate Tax which only affects the top eight to 12,000 American families every year.
This is the Republican legacy. Were you surprised Bush wants these tax cuts to survive his presidency? Are you surprised John McCain has reversed himself and now supports the Bush tax cuts? Do you really think Senator McCain can balance the budget with such a lavish tax cut program?
Barack Obama has promised to shift the Social Security tax to these same folks who have been making more than $250,000 a year and have benefited from Bush tax scams for the last eight years. That is what I call a tax cut! I have been paying this regressive tax that is capped at $98,500 all of my life. Some relief would be nice.
The Republicans want you to fell sorry for the wealthy: men like John McCain who own 10 houses or George Bush who has taken more vacations than any president in US history. We are supposed to fell sorry for CEOs who make more in one year than the average American makes in a lifetime. We are supposed to fell sorry for the affluent who can afford expensive accountants and lawyers and can purchase tax free municipal bonds and make tax free oil and gas investments.
Well, I have never felt sorry for the rich. They can take care of themselves quite handily and really don't need tax and other welfare handouts from the Federal government. I also know that all of the industrial nations of the world use a progressive tax systems and the flat tax is quite rare: Russia, one of the Baltic states and Switzerland are the only countries that have a flat tax. For some reason the Heritage Foundation never mentions that old communist country, Russia, when it discuses the flat tax. Two out of the three countries that have flat taxes were communist in the past.
Want a real tax cut that will benefit your family? Vote Democratic in 2008.
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