Monday, October 01, 2012 11:23 AM
Republicans slash taxes for the middle class? Like Bush Tax Cuts?
Top 1% got 37.6%--Top 5% got 48.3%
Bottom 60% got 16.4%. Luckie duckies?
Republicans will not be satisfied until we pass Chile and Mexico as Least taxed in oecd nations.
We rank third. We take 27% of gdp in federal-state-local taxes. Rank 4th on Inequality.
Top 50% take 86% of individual income. 70,000,000 get 14% yet pay full payroll tax out of measly income.
In 2011, Corporate paid 12.1% Tax Rate yet scream 35% rate is highest in world cut it cut cut it.
2013 budget calls for taxes of 2900B and borrow 900B. Dumb. Our income is 14,000B yet we borrow 900B? That is 900B the richest will keep in their pocket. Since 1980, We borrowed 15,000 Billion
and did not tax enough which allowed rich to get very rich.
It will take a tax system like 1945-1980 that paid down WWII debt. It will take decades.
We CAN do it. Remember the great domestic growth even with those high tax rates?
We Must do it. The rich have taken us to the cleaners. War. Cut Tax. Huh?
Bush huge tax cut assisted in our debt going from 5800 to 11,900 Billion. Doubled.
Clinton last budget ended 9-30-01 with 5800B of debt. Bush last budget ended 9-30-09 with 11,900B of debt.
From 1980--2009, three Republican presidents and Debt grew by 9000B. It has grown
by 4100B under Obama three budgets. But! About one-third is from Bush three “New” programs.
CBO study revealed that 2001-2010 Bush “new” programs created 5100B of debt.
We MUST cut spending in Defense And Medicare plus increase revenue from taxes on rich estates and incomes. Is it not sad that one family owns more wealth than 90% of families. Tax rates 1945-10980 would have prevented it. The Great middle Class needs a break. clarence swinney