We have a very "progressive" income tax in the U.S.--the top 10% of earners pay over 70% of the income tax. Because I am a pensioner, my income comes from investments in my state teachers' pension and my 403-b, the 15% of my salary I socked away while I worked. (I'm not eligible for Social Security--that would be "double dipping.") Now I'm with the bottom 50% who pay about 2.3%. I can only live well if Obama and other Democrats don't target investors, risk takers, entrepreneurs, and the big spenders who keep the wheels of the economy moving.
Monday, January 26, 2015
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