Don't be fooled as we roll off the fiscal cliff. It's not about the wealth of the top 1 or 2 percent. The federal tax system is "progressive" and has been for close to 100 years--wealthier people pay taxes at a higher rate than others, but there just aren't enough of them to impact our debt. That plan he dangled during his campaign isn't enough to float the government even 2 weeks. You can't get blood out of a turnip--even the top 20% of households now pay more than 94 percent of income taxes. What he really wants is the wealth of the middle class, that middle bracket (20%) of the 5 quintiles. Now, there's something that really matters, and you all have it, so in this administration it obviously belongs to someone else--our government. (The 2 lowest quintiles--40%--pay no federal taxes--they get money and stuff from the gov't).
Monday, December 24, 2012
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1 comment:
Murray sez:
You may not get blood out of a turnip but Obama has a plan to extract money out of the middle class. We're all gonna have fun hanging on to what we worked hard for. There's a lot loafers out there and Obama wants to "level the playing field" for them!!!!!
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