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War Is Peace. Freedom Is Slavery. Ignorance Is Strength. Tax Cuts Generate Revenue

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Donnachaidh Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-02-11 11:27 AM
Original message
War Is Peace. Freedom Is Slavery. Ignorance Is Strength. Tax Cuts Generate Revenue
http://www.commondreams.org/view/2011/06/02-2

The political system may be different from Orwell's time, but the corruption and propaganda remain. We all have to 'sacrifice' to balance the budget. As Time Magazine wailed: "Do the nation's leaders have the courage to cut health entitlements or Social Security?" And the horses say, "We will work harder."

But the wealthiest individuals and corporations are not paying their taxes. They say they are. The richest Americans complain that they're paying most of the federal income taxes, and that's true. But since 1980 their AFTER-TAX share of America's income has TRIPLED. That's a trillion dollars a year in extra income for the wealthiest 1%. Their federal income tax rate has gone DOWN during that time, from 34% to 23%.

If they're paying most of the federal income tax it's because they make almost all the money.

The wealthiest 125 U.S. corporations, meanwhile, paid only 10% in U.S. income taxes last year. They claim that a lower tax rate will generate more tax revenue.

More at the link --
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Deep13 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-02-11 11:31 AM
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1. Also, poor people horde all the money. nt
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liberal N proud Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-02-11 11:31 AM
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2. Over the past 50 years the marginal rates for top corporations have steadily fallen,
While salaries have remained flat and the corporations have cut people.

Where's the beef? as the old lady used to say in the Wendy's commercials.

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PDJane Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-02-11 11:32 AM
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3. and tax cuts for the rich don't create jobs, either.......
I'm amazed at the stuff that people will believe in the face of evidence to the contrary.

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Marr Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-02-11 11:35 AM
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4. Have you ever heard a coherent response to the obvious follow-up question:
"If reducing taxes increases revenue, why not stop taxing altogether and just roll in the dough?"

They have to admit that there's a point at which reducing taxes would begin to reduce revenue. So their tax maxim is bullshit and the argument is not "how much can we lower taxes on the rich", but "should we raise taxes on the rich?".
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Drale Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-02-11 11:45 AM
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5. The right wingers follow the Sith Code
Edited on Thu Jun-02-11 11:45 AM by Drale
Peace is a lie, there is only passion.
Through passion, I gain strength.
Through strength, I gain power.
Through power, I gain victory.
Through victory, my chains are broken.
The Force shall free me.

They are evil, I have no doubt about that.
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