Friday, February 08, 2013 4:43 PM
INFORM THE MASSES
Since 1980, you have been ripped off via redistribution of income and wealth .
It began with Reagan 60% tax cut for top incomes.
Today, the tax book exemptions are distributed with bottom 20% getting 3% and top 20% getting 66%.
One half of tax payers take 87% of individual income and 70 Million take 13%.
Minimum wage has the purchasing power of 1968 dollar.
400 have as much wealth as 50% of the population
One family has more wealth than 90% of families.
The Republican do not tax ideology has helped create this inequality.
In 2009, we spent 3500B, taxed 2100B and borrowed 1400B
Our income is 14,000B so 2100B is a 15% tax rate.
The individual income was taxed at 10.06% tax rate.
We have the wealth and income to balance the budget and begin paying down that horrid debt.
We must change. Tax Wealth is necessary.
Since 2000 surplus we borrowed 10,600B due to Bush tax cuts, two wars and failure to tax wealth.
The top 10% own 73% of net wealth, and 83% of financial wealth.
Had we kept Clinton fiscal and foreign policies we would have no debt.