Originally posted by SKMDC1
Last month Obama and McCain's tax plans were compared and analyzed by the non-partisan Tax Policy Center. Everyone discussing the two tax plans should consider this required reading:
Look, at least be honest about what you are posting because being dishonest or disingenuous in your first sentence greatly reduces the legitimacy of your remaining post.
To say that the Tax Policy Center is non-partisan is laughable. It's a leftist organization. The Tax Policy Center is a joint venture of the Urban Institute and Brookings Institution both of which are leftists with a liberal agenda. It's fine if you wanted to post this biased report but you should have been honest from the beginning.
Now to the report itself. The one sentence which really stuck out for me was this one:
The Obama tax plan would make the tax system significantly more progressive by providing large tax breaks to those at the bottom of the income scale and raising taxes significantly on upper-income earners. The McCain tax plan would make the tax system more regressive
Large tax breaks for the poor??
In 2003, the bottom quintile paid an effective income tax of –5.9 percent of their income and that the second-lowest quintile paid an effective income tax of –1.1 percent. Their income tax burden was negative, meaning that they actually received a subsidy from Washington on April 15.
The data clearly show that the tax burden is shifting annually up the income scale while spending continues to move down the scale. In other words, the people with the highest incomes are paying more of the tax burden while the poor are receiving more of the spending. Yet the misperception that the federal government is doing the opposite persists.
How much is enough??
The top 50% of income earners pay 97% of all income taxes.
The top 25% of income earners pay 86% of all income taxes.
The top 1% of income earners pay 39% of all income taxes.
I mean damn, how much more are you going to steal from them. How about getting rid of some useless government social programs and reduce the tax burden.
When will it stop. The top 50% pay 97% of all income taxes!!!
How much more do you want people to pay? Do you want the top 50% to pay 100% of the tax rate?
[edit on 7-7-2008 by WhatTheory]





