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Trivia Tidbit Of The Day: Part 181 -- The Tax Burden.
Taxes-
The rich, even after Bush's "tax cuts for the wealthy," still pay nearly all of the federal income taxes collected by the government (via Kip Esquire):
Kip adds:
Of course, most of those filers in the "tax-free" lower half of returns are only free of income tax. They are not exempt from Social Security taxes. The rich are oppressed by income taxes; the working poor are oppressed by Social Security taxes. Therefore, those who champion the working poor ought to be less interested in income tax reform and more interested in Social Security reform. Indeed, they ought to be the most ardent advocates of Social Security reform, including voluntary partial privatization. Go figure.
Great points.
Previous Trivia Tidbit: Best Places To Do Business.
Posted by Will Franklin · 10 October 2005 02:35 PM
Comments
Welcome back, Will, and welcome to the Harriet Miers maelstrom that's been going on while you were away.
BTW, the table above is one of those "tidbits" the class warriors never want you to see. When it's made plain that the top 5% of earners pay 54% of the income taxes it's hard to make the case that the rich aren't "paying their fair share."
Posted by: Giacomo at October 11, 2005 09:36 PM