Terry is busy this week. Were he to have time to read, I would enjoy his populist comment about: According to the CBO, those who made less than $44,300 in 2001 -- 60% of the country -- paid a paltry 3.3% of all income taxes. By 2005, almost all of them were excused from paying any income tax. They paid less than 1% of the income tax burden. Their share shrank even when taking into account the payroll tax. In 2001, the bottom 60% paid 16.3% of all taxes; by 2005 their share was down to 14.3%. All the while, this large group of voters made 25.8% of the nation's income.
Ari Fleischer Says It's Bad for Our Democracy to Exempt Half the Country From Income Taxes - WSJ.com
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3 comments:
Jimmy:
I am long since on record agreeing with you on this topic. I will take this opportunity to remind you that it was Dubya who removed many from the tax rolls in his 2001 + 2003 tax cuts. It made it politically palatable to give 80%+ of the relief to the wealthy.
I think you have Karl Rove to thank for the reduced number of income tax payers. Good luck trying to put the lower middle class back into the income tax paying pool. How could that ever be accomplished politically?
Of course - anyone who works pays at least 7.65% into FICA/Medicare on the first $106,800 of income...
We have a progressive tax policy in this country. any questions?
13 million taxpayers removed from the rolls in Bush tax cuts. My source is Karl Rove in yesterday's WSJ.
Good job Republicans! Attaboy!
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